Jones Lang LaSalle Incorporated (JLL - Free Report) , popularly known as JLL, has announced the appointment of Christian Ulbrich, the president of the company since June, as the new chief executive officer (“CEO”), with effect from Oct 1, 2016. Christian Ulbrich will replace the retiring CEO Colin Dyer, who was at the helm of the company since the past 12 years.
Parting of Dyer
The 63 years old Dyer is retiring from JLL at the end of this year. He will however remain on the board of directors through the annual shareholders meeting in spring 2017.
Under the leadership of Dyer, revenues of JLL increased over five times since 2004 to $6 billion. This was achieved through more than 80 acquisitions all over the world, organic growth, and expansion of its geographic footprint across the globe. He was also instrumental behind establishing a strong leadership team, building a robust client base and raising the value of the shareholders.
Ulbrich, as president and CEO, will be responsible for designing strategic direction and growth tactics for the Chicago-based full-service real estate firm. In fact, JLL is engaged in offering corporate, financial and investment management services to corporations and other real estate owners, users, and investors all over the world. The real estate services segment is subdivided into three geographic regions – the Americas, EMEA (Europe, the Middle East, Africa) and the Asia Pacific.
Ulbrich joined JLL as the managing director of JLL Germany in 2005 and gradually moved up the ladder to EMEA CEO and then to president. Before joining JLL, He served the role of CEO in Hamburg, Germany-based HIH group of companies. Importantly, Ulbrich was instrumental in scripting robust performance in EMEA, even amidst tough economic conditions. Given Ulbrich’s huge experience in real estate and finance and leadership qualities, JLL is anticipated to keep its growth momentum going.
JLL currently has a Zacks Rank #4 (Sell).
Investors interested in the real estate operations industry sector can consider stocks like Sun Hung Kai Properties Limited (SUHJY - Free Report) , Colliers International Group Inc. (CIGI - Free Report) and Henderson Land Development Co. Ltd. (HLDCY - Free Report) . While Sun Hung Kai Properties sports a Zacks Rank #1 (Strong Buy), both Colliers International Group and Henderson Land Development Co. carry a Zacks Rank #2 (Buy).
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