Steve Hyung Kim Taking Over as Sole Head of APAC for LaSalle as Okumura Prepares to Exit

LaSalle Investment Management is reshaping its Asia Pacific leadership for the second time in just over a year, with Steve Hyung Kim set to become the company’s sole head and chief investment officer for the region from 1 May, according to an announcement by the division of JLL on Tuesday. 

Based in Seoul, Kim was named co-CIO for Asia Pacific from February last year, with both Kim and  LaSalle’s then head of Japan and regional co-CIO, Kunihiko (Nick) Okumura, named co-heads of Asia Pacific from 1 July last year when then regional boss Keith Fujii was moved upstairs to a chairman role. 

In a statement, LaSalle said this latest transition reflects the strength, depth and continuity of LaSalle’s regional platform and positions it for continued growth under proven leadership.

“Steve’s appointment demonstrates the strength of our leadership bench in Asia Pacific and our disciplined approach to succession planning. His deep regional expertise, institutional knowledge and proven track record position our platform exceptionally well for continued success,” LaSalle CEO Brad Gries said in the announcement. 

Okumura will step down from his co-head and co-CIO roles from 1 May and will leave LaSalle on 31 October, the company said. He will continue to serve as CEO of its Japan business through 30 June. 

Banking Background

Kim joined LaSalle in 2013 after four years as an executive director with the real estate investment banking division of Nomura International in Hong Kong, having taken that role after a four-year stint with Lehman Brothers in the city ended in 2008, as happens.

Educated at Georgetown University in the US and the London School of Economics and Political Science, Kim has more than 26 years of professional experience, having also worked at Merrill Lynch and Deutsche Bank. 

During the past few years, Kim’s team at LaSalle in Korea have focused on logistics and office opportunities, including buying a set of Seoul warehouses for $450 million in 2024.

The company also made some opportunistic Seoul office investment, including picking up a Gangnam district site for $115 million in July 2024.

New Start in Japan

With LaSalle having been active in Japan for over twenty-five years, Okumura has been with the company since 2011 and was named Japan CEO in 2023.  

We are grateful to Nick for his many contributions to LaSalle, and for the role he has played in building our strong and enduring Japan business,” Gries said.

LaSalle has managed a range of private fund vehicles in the country spanning office, retail, logistics and residential. The company launched its LaSalle Logiport REIT in 2016, with Mari Nagai, who currently leads the company’s Japan logistics business, to take over as Japan CEO from 1 July.

An 18-year LaSalle veteran, Nagai also leads the company’s Japan logistics fund series.    

“Mari is a highly respected leader and investor with deep experience and strong stakeholder relationships in the Japan market, as well as a strong track record of execution,” Steve Hyung Kim said. “Her appointment as CEO of Japan exemplifies our commitment to promoting and cultivating talented leaders from within the organization.”