A new duo is taking the reins of JLL’s investment management arm.

LaSalle Investment Management has appointed Head of Americas Brad Gries as its new global CEO, replacing Mark Gabbay, it announced Wednesday. It also said Global Chief Operating Officer Tim Kessler will become its president.

They will retain their current titles and add the new roles on Jan. 1. Both executives are based in Chicago, where LaSalle IM is headquartered.

Gabbay, who has served as global CEO since January 2021, is shifting to become executive chairman. He has been with the firm since 2010, when he took the role of chief investment officer for Asia Pacific. Five years later, he became CEO of the region.

Gabbay said leading the organization has been an “extremely gratifying” part of his career.

“I'm confident that LaSalle will continue to thrive, and I'm looking forward to working with Brad and Tim to take LaSalle's strategy and success to the next level,” he said in a statement.

Gries has been co-CIO of the Americas since 2017 and head of the region since 2024.

Kessler stepped into the COO role in 2021 after serving as global head of corporate strategy and development since 2017.

“Our path forward is clear — sustainable growth built on trust and strong client relationships, and commitment to our people, innovation and operational excellence,” he said in the release.

As of the second quarter, LaSalle Investment Management managed $88.5B in public and private real estate equity and debt. Its more than 850 employees are located in 23 cities worldwide, according to its website.

The investment manager also this week announced a deal with Canada-based QuadReal Property Group to recapitalize a more than 3M SF U.S. industrial portfolio. Through the deal, LaSalle is acquiring a 49% stake in the assets, which are valued at $495M.