REAL ESTATE - Savills says it is unlikely to replace Marcus Lemli when the director of Spanish investment leaves later this year.

Lemli, who is leaving to head Jones Lang Lasalle's German investment team, joined Savills' Madrid office two years ago but has made no secret of his desire to return to his native Germany. His new role - within a significantly different corporate structure - will reportedly involve more management and less deal-making.

Borja Sierra, from Savills' Madrid office, said business would continue as usual after Lemli's departure. David Brown will take over office real estate; Luis Espadas will continue to be responsible for retail; and Jorge Perez will be responsible for industrial.

"In any case, Marcus acted more as a coordinator of the department," Sierra said.