LaSalle Promotes Gries to Global CEO, Kessler to President, Gabbay Shifts to Chairman

LaSalle Investment Management said this week that it will promote two of its North American executives to top leadership positions, as current global chief executive Mark Gabbay shifts to an executive chairman role with the real estate fund manager.

From 1 January LaSalle’s head of Americas, Brad Gries, will take over the global CEO job, and current global chief operating officer Tim Kessler will be given the additional title of president, according to an announcement from the unit of property consulting firm JLL.

“I’m honored to become LaSalle’s Global CEO and lead the business through its next phase of growth, ensuring that we continue to exceed our client’s expectations,” Gries said. “Our global reach, diverse range of products across multiple markets and our talented team, position us perfectly for a successful future.”

The change in leadership comes five years after Gabbay moved up to the global CEO job from his roles as chief executive and chief investment officer of LaSalle Asia Pacific.

Steady Through the Cycle

In the statement, LaSalle credited Gabbay with guiding the company through the pandemic and what it referred to as “the current real estate cycle,” while consistently delivering strong investment performance for clients. 

“Leading this exceptional organization as global CEO has been an extremely gratifying part of my career,” Gabbay said. “Together, we have built a global culture focused on performance, innovation and collaboration that sets LaSalle apart in our industry.”

Gabbay joined LaSalle as chief investment officer for Asia Pacific in 2010 before taking on the additional role of APAC CEO in 2015.

Familiar Faces at HQ

With Gabbay having moved into the head job at a time when Asia was a major engine of growth for real estate investors, Gries is taking on the CEO title while continuing to serve as LaSalle’s head of the Americas. Continuing to be based in the company’s Chicago headquarters, Gries has been a member of LaSalle’s global management committee since 2021 and will now report to Richard Bloxam, chief executive for JLL Capital Markets.

Also based in Chicago, Kessler will continue to serve as global COO following his ascencion to the president role, and has been a member of LaSalle’s global management committee since 2018. 

Kessler will report to Gries with the two executives expected to work together in developing and executing LaSalle’s global strategy. 

“It’s a privilege to be appointed to president at what is an exciting time for LaSalle,” Kessler said. “Our path forward is clear – sustainable growth built on trust and strong client relationships, and commitment to our people, innovation and operational excellence.”