LaSalle Investment Management has appointed Karen Brennan, head of Americas custom accounts for LaSalle, as the firm’s CEO for Europe, as of 30 June.
Following a 12-year period as CEO for Europe, Simon Marrison will transition from the position and assume a chairman role for the business.
In her new role, Brennan will have overall responsibility for LaSalle’s $22 bn (€20 bn) AUM pan-European private equity real estate business and will join the firm's nine-person global management committee. She will be based in London and will also oversee the firm’s teams in the UK, Paris, Munich and Luxembourg.
Marrison joined LaSalle in 2001 and has operated six funds in the region, launched the Continental European separate accounts business as well as the debt & special situations business that now has a flagship fund series, and grown the firm’s pan-European Encore+ fund to a gross asset value of more than $2 bn, LaSalle said.
'Simon has played a pivotal role in LaSalle’s growth and success in Europe over his decade plus leadership of the business,' said Jeff Jacobson, CEO for LaSalle Global.
'As he elects to transition from day-to-day management of the business, I am extremely pleased that we have such a strong successor in Karen Brennan and that illustrates our commitment to succession planning and providing career opportunities to our top talent throughout the world,' Jacobson added.
Brennan joined LaSalle in 1999 and has held a variety of leadership, investment, asset and portfolio management roles across the organisation. From 2008-2012, she held the role of portfolio manager for LaSalle's Asia opportunity funds, and more recently, has led LaSalle’s Americas Custom Accounts group, growing it 30% to an AUM of nearly $10 bn.
