Philip La Pierre, who joined LaSalle Investment Management in 2018, has been promoted to head the firm’s $23bn (€19.5bn) pan-European real estate business.

LaSalle said La Pierre, the head and CIO of continental Europe, has been appointed CEO of Europe following predecessor Karen Brennan’s move to parent company JLL as CFO.

From next month, La Pierre will have overall responsibility for LaSalle’s pan-European real estate business and will join the firm’s global management committee.

Under La Pierre’s leadership, LaSalle’s continental Europe managed assets have increased 30% to $10.3bn, LaSalle said.

Jeff Jacobson, global CEO at LaSalle, said: “Philip has already played a key role in our success in Europe and I am confident that he will help us to strengthen our position as one of the region’s leading real estate investment managers.

“This is a pivotal moment for our firm and for our sector, and we are very fortunate to have someone with Philip’s talent, knowledge and experience leading us in Europe at this time.”

“Given the strong foundations which have been set across the region, I look forward to continuing to work closely with Jeff and the regional leadership team to generate superior investment performance on behalf of our clients, drive the long-term growth of our business, and advance our global position,” La Pierre said.

La Pierre joined LaSalle in June 2018 following a brief stint at Corestate Capital as co-CIO. Prior to joining Corestate, he spent eight years at Union Investment Real Estate in various leadership roles, including the head of investment management Europe and later becoming the global head covering the Americas and APAC region.

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