Mark Gabbay will take over as global CEO of real estate specialist LaSalle Investment Management on Jan. 1.
He will report to Christian Ulbrich, president and CEO of Jones Lang LaSalle, the real estate manager's parent company, a news release said Monday.
Mr. Gabbay will replace Jeff A. Jacobson, who will serve as chairman of the firm until at least June 1, 2021, and "will continue to work closely with the leadership team to ensure a smooth transition and continued momentum in the business," the release said.
Mr. Gabbay is CEO and CIO of LaSalle Asia Pacific. Keith Fujii, now LaSalle's CEO for Japan, will assume the role of Asia Pacific CEO from Mr. Gabbay. The role of Japan CEO is being eliminated, said Matthew Schuler, a LaSalle spokesman, in an interview.
Claire Tang, currently LaSalle's head of greater China, and Kunihiko Okumura, head of Japan acquisitions, will retain their current positions and become co-CIOs for Asia-Pacific, replacing Mr. Gabbay, Mr. Schuler added.
Other personnel changes at LaSalle include:
- Timothy Kessler will become global chief operating officer, a newly created position, and will retain his current position as global head of corporate strategy and development.
- Alok Gaur will become global head of LaSalle's client capital group. He had shared the position with Jon Zehner.
- Mr. Zehner will become CEO of LaSalle's global partner solutions group. He replaces Edward Casal, who will leave the company at the end of the year, Mr. Schuler said.
LaSalle managed $65 billion in private and public real estate and debt investments as of Sept. 30.