EXHIBIT 99.1
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JONES LANG LASALLE NEWS RELEASE
Contact: Charlotte Freeman
Phone: +44 20 7399 5616
Email: charlotte.freeman@eu.jll.com
Chek Yee Foo
+65 6494 3647
chekyee.foo@ap.jll.com
Gayle Kantro
+1 312 228 2795
gayle.kantro@am.jll.com
JONES LANG LASALLE ANNOUNCES REGIONAL CEO MANAGEMENT CHANGES
Alastair Hughes to become CEO of Asia Pacific;
Christian Ulbrich to lead in EMEA;
Peter Barge to take new strategic development role
LONDON, SINGAPORE, CHICAGO, 9TH SEPTEMBER 2008 - Jones Lang LaSalle today
announced three management changes that will take effect in January 2009.
Alastair Hughes, currently CEO for EMEA, has been named CEO for Asia
Pacific, succeeding Peter Barge who will become Chairman for Asia Pacific.
Christian Ulbrich, who currently leads the firm in Germany, will become CEO
for EMEA and join the Global Executive Committee (GEC). In his new role as
Chairman for Asia Pacific, Mr. Barge will provide strategic oversight of
global business line development, while also continuing as Chairman of
Jones Lang LaSalle Hotels until his retirement in 2010.
Announcing these changes, Jones Lang LaSalle's Global CEO, Colin Dyer,
commented: "These appointments recognise the outstanding contributions
that Alastair, Christian and Peter have made to the firm and provide a
clear demonstration of our depth of outstanding talent which ensures that
our leadership changes are made smoothly and efficiently. Alastair,
Christian and Peter will provide fresh perspectives and ideas in their new
roles while maintaining the high levels of client service and focus on
growth for which they are known."
Since he became regional CEO in 2005, Alastair Hughes (42) has guided EMEA
through a period of unprecedented expansion across all countries and
business lines. Profits rose more than threefold and revenues nearly
doubled in the three years to 2007, with both robust organic growth and 13
key acquisitions. During this time, Jones Lang LaSalle's established
western European businesses strengthened and increased their market
positions, while its Russian and central and eastern European businesses
and its new offices in the Middle East delivered exponential growth.
Mr. Hughes will relocate to Singapore.
Christian Ulbrich (42) joined the firm in early 2005 after a 20 year career
in real estate banking and finance. As leader of Jones Lang LaSalle in
Germany, he has overseen impressive organic growth, as well as the
acquisition of Kemper's Group, Brune Consulting and other highly regarded
businesses, allowing Jones Lang LaSalle to gain a clear market leadership
position. During this time, Germany's revenues have more than tripled, and
it has been transformed from losses into a profitable, dynamic operation.
Four new offices have been added since 2007, bringing the total in Germany
to ten. A process is currently under way to select Mr. Ulbrich's successor
in Germany.
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JONES LANG LASALLE ANNOUNCES REGIONAL CEO MANAGEMENT CHANGES
Peter Barge (58) who has previously stated his intention to retire in 2010,
in addition to his role as Chairman of Asia Pacific, will remain a member
of the firm's GEC with an expanded remit for strategic oversight of global
business line development. Under Mr. Barge's management the Asia Pacific
business has tripled revenue in the last five years while profits grew at
an average annual rate of over 100%, staff numbers doubled to 16,000,
corporate office locations and project offices increased to 56 and over
500, respectively. Peter has driven the rapid development of market-
leading operations in the booming economies of India and China, ensuring
the firm's powerful regional business is exceptionally well positioned in
both developing and mature markets.
Colin Dyer emphasised the continuity underpinning these leadership changes.
He said: "Across Jones Lang LaSalle, we are building the strongest director
group in the real estate advisory and investment management world. That is
exciting and essential, because we expand our company by building around
great people and great people are the keys that allow us to grow with
confidence."
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NOTES TO EDITORS
CEO Biographies
.. Alastair Hughes
Alastair Hughes joined the Jones Lang Wootton graduate training
scheme in 1988 and then gained experience working in Property
Management and Fund Management. In 1991, he joined the Capital
Markets team advising clients on buying and selling commercial
property investments outside Central London and took on the
leadership of the National team in 1996. After successfully running
the English Business between 2000 and 2005 he became Chief Executive
Officer for Europe, Middle East and Africa (EMEA) and a member of the
Global Executive Committee (GEC) of Jones Lang LaSalle.
.. Christian Ulbrich
Christian Ulbrich has a senior university degree in Business
Administration and is trained as a banker. After senior appointments
with two international banking groups he joined the Executive
Committee of a Northern German private bank. Subsequently, he was in
charge of the real estate activities of M. M. Warburg Bank which is
consolidated within HIH group of companies. Mr. Ulbrich joined
Jones Lang LaSalle as CEO for Germany and a member of the EMEA Board
in 2005.
.. Peter Barge
As part of his career in the hotels business, Peter Barge spent four
years lecturing on hotel management. In 1979, he established his own
consulting firm in Australia, where, through mergers, the firm
expanded throughout Asia Pacific, North America, and Europe, and
ultimately merged and became part of Jones Lang Wootton. Mr. Barge
oversaw the expansion of the firm's highly successful Hotels
business, of which he is still Chairman today. In 2001, he relocated
to Chicago to run Jones Lang LaSalle's corporate real estate
business. He returned to Asia Pacific in 2003 as the region's Chief
Executive Officer, a member of the Jones Lang LaSalle Global
Executive Committee and the global Chairman of Jones Lang LaSalle
Hotels. He is also on the Board of Tatweer, the Dubai-based
conglomerate, and member of Dubai Holdings Group.
JONES LANG LASALLE ANNOUNCES REGIONAL CEO MANAGEMENT CHANGES
COMPANY FACTS
.. EMEA
. 24 countries, 60 offices
. Revenue in 2007 was $926 million
. 13 acquisitions in the last two years including more recently
Churston Heard (UK) and Alkas Consulting (Turkey)
.. Germany
. 10 offices
. Revenue increased in 2007 by 53% year on year
. Acquired Camilli Veiel, Brune and Kemper's in the last two
years
.. Asia Pacific
. 13 countries, 56 offices
. Revenue in 2007 was $602 million
. Six acquisitions in the last two years including Trammell
Crow Meghraj