Jones Lang LaSalle could pay another $35 million throughout the next three years under earn-out provisions of the merger agreement, which sharply increases the firm's presence in the Boston market, as well as widening its berth in the nation's capital. In addition, Jones Lang LaSalle picks up Spaulding & Slye's specialized client bases, including life science and law firms.
Most of Spaulding & Slye's 500 employees are joining the Jones Lang LaSalle fold. Former Spaulding & Slye president David McGarry will oversee Washington, DC and New England operations, as well as Spaulding & Slye Construction. Former Spaulding & Slye chairman Jim Karman will manage client relationships. Chief investment officer Marshall Durston and chief financial officer Peter Bailey will head Spaulding & Slye Investments.
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