CHICAGO and LONDON, September 7, 2006 – Jones Lang LaSalle Incorporated (NYSE: JLL) today announced that Lynn Thurber will retire from day-to-day management of LaSalle Investment Management (LaSalle) effective December 31, 2006 and will be succeeded in the role of Chief Executive Officer of LaSalle by Jeff Jacobson. Ms. Thurber will take on the role of Chairman of LaSalle on January 1, 2007. In this new capacity, she will focus on further developing the firm’s client relationships, providing guidance and advice to LaSalle’s senior management team and continuing to serve on selected investment committees and advisory boards of LaSalle sponsored funds.
Ms. Thurber, 59, has been Chief Executive Officer of LaSalle since 1994, when Alex Brown, Kleinwort Benson (ABKB) Realty Advisors merged with LaSalle Partners, now Jones Lang LaSalle. Ms. Thurber had been CEO of ABKB and, prior to that, was a Principal at Morgan Stanley & Co. Mr. Jacobson, 45, a 16-year veteran of the firm, has been LaSalle’s European Regional Chief Executive Officer since June, 2000. Mr. Jacobson will remain based in London.
In making these announcements Colin Dyer, Chief Executive Officer of Jones Lang LaSalle stated, “Lynn has been an instrumental force in driving LaSalle to become one of the world’s leading real estate investment managers. For several years, Lynn’s goal has been to build a strong global platform and a deep and stable senior management team prior to her retirement. Having accomplished these goals, I am pleased that she can step back from day-to-day management of the business and enjoy her accomplishments while still remaining involved with our clients and people through her role as Chairman.”
“It has been a privilege to work with so many outstanding colleagues and clients over my past 12 years at LaSalle, and to realize our vision for the business,” said Ms. Thurber. “It is particularly gratifying to know the business will be in the hands of such a strong and stable senior management team, led by Jeff Jacobson, as it continues to grow and evolve to meet the demands of our clients. I look forward to working with our senior team in my new capacity during the forthcoming years.”
“I am delighted to have the opportunity to lead our business in building upon the successes we have achieved with Lynn. We have an outstanding platform around the world that places us in a unique position to assist our clients in achieving their real estate investment objectives worldwide,” said Mr. Jacobson. “I am particularly fortunate to be working with such a talented and cohesive senior management team at LaSalle. With an average of over 16 years of experience at LaSalle, our team assures our clients of a seamless transition as well as consistent values that allow us to act as one firm as we continue to grow around the world.”
Jones Lang LaSalle (NYSE: JLL), the only real estate money management and services firm named to Forbes magazine’s Platinum 400, has more than 100 offices worldwide and operates in more than 430 cities in 50 countries. With 2005 revenue of approximately $1.4 billion, the company provides comprehensive integrated real estate and investment management expertise on a local, regional and global level to owner, occupier and investor clients. Jones Lang LaSalle is an industry leader in property and corporate facility management services, with a portfolio of 966 million square feet worldwide. In 2005, the firm completed capital markets sales and acquisitions, debt financings, and equity placements on assets and portfolios valued at $43 billion. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse real estate money management firms, with approximately $37 billion of assets under management. For further information, please visit www.joneslanglasalle.com.