UNITED STATES - US-based property investment and consultants group Jones Lang LaSalle is reshuffling its senior board in a bid to reinforce its global presence and strategy for expansion.
Alastair Hughes, current chief executive officer (CEO) for Europe, Middle East and Africa (EMEA), takes over as chief executive officer for Asia-Pacific with effect from next year as the current CEO for Asia Pacific, Peter Barge, is moving to become chairman for the region, to provide strategic oversight of global business line development.
Christian Ulbrich, who currently leads the firm's German operation, is replacing Hughes in the EMEA slot and will also join Jones Lang LaSalle's global executive committee.
"These appointments provide a clear demonstration of our depth of outstanding talent which ensures that our leadership changes are made smoothly and efficiently," claimed Colin Dyer, Jones Lang LaSalle's global CEO.
"They will provide fresh perspectives and ideas in their new roles while maintaining high levels of client service and focus on growth," he added.
Hughes is relocating to Singapore to fill his new role but became regional EMEA CEO in 2005 and has since guided the firm's operations through a huge regional expansion to increase profits more than threefold and nearly double revenues in 2007.
He inherits an Asian Pacific operation that, under Barge - who intends to retire in 2010 - has seen revenues triple in the last five years, and profits grow at an annual rate of over 100%.
Ulbrich, meanwhile, joined Jones Lang LaSalle in 2005 with 20 years' experience in real estate banking and finance and turned the company's German fortunes around following a period of loss to more than triple revenues.
With his move into the EMEA post, the firm is now a suitable replacement for the German role.