Peter Schaff, North America private equity CEO for real estate investment management firm LaSalle Investment Management, is stepping down at the end of this year, according to a written statement from Jeff Jacobson, global CEO.
Mr. Schaff will become North America chairman, a new position, at the beginning of 2013.
“After a lengthy and very successful career at LaSalle, he has determined that over the next 18 months he wants to move away from the leadership of a large-scale investment business and devote more time to personal investing interests as well as not-for-profit organizations,” Mr. Jacobson wrote.
Mr. Schaff joined LaSalle in 1984 from Continental Illinois National Bank, now part of Bank of America, where he was a banking officer working on financial instruments including private debt placements and interest rate swaps.
“We are carefully considering internal and external candidates for the North America CEO position in order to identify the best leader to take the firm forward,” Mr. Jacobson stated.