LaSalle Names Brennan CEO In Europe as Marrison Transitions to Chairman
Brennan joined LaSalle in 1999 and has successfully held a variety of leadership, investment, asset and portfolio management roles across the organization.
CHICAGO, IL AND LONDON, UK—LaSalle Investment Management says that following a successful 12-year period as CEO for Europe, Simon Marrison will transition to assume a chairman role for the business, while Karen Brennan, head of Americas custom accounts for LaSalle, will succeed Marrison as the firm’s CEO for Europe at the end of June. Marrison will work closely with Brennan to ensure a seamless leadership transition.
“Simon has played a pivotal role in LaSalle’s growth and success in Europe over his decade plus leadership of the business,” Jeff Jacobson, LaSalle Global CEO, says. “As he elects to transition from day-to-day management of the business, I am extremely pleased that we have such a strong successor in Karen Brennan and that illustrates our commitment to succession planning and providing career opportunities to our top talent throughout the world. I am confident that Simon’s mentorship and Karen’s proven investment, client and leadership skills will lead LaSalle to continued growth and success in Europe.”
“It is an honor to be the next leader of our European business, which has experienced significant growth under Simon’s leadership,” says Brennan. “I am eager to work with the teams across the region to build on the foundation that has been set, as we seek to advance our global position and produce superior investment performance on behalf of our clients.”
In her new role, Brennan will have overall responsibility for LaSalle’s $22 billion pan-European private equity real estate business and will join LaSalle’s nine-person global management committee. She will be based in London and will also oversee the firm’s teams in the UK, Paris, Munich and Luxembourg, and travel regularly to the markets in which LaSalle operates and invests. Brennan joined LaSalle in 1999 and has successfully held a variety of leadership, investment, asset and portfolio management roles across the organization.
From 2008-2012, she relocated to the firm’s Singapore and Hong Kong offices where she held the role of portfolio manager, ex-Japan, for LaSalle’s Asia Opportunity Funds, and played a critical role in the re-structuring and stabilization of the region’s business following the global financial crisis. More recently, she has led LaSalle’s Americas Custom Accounts group, which includes some of the firm’s largest and longest-standing institutional investor clients and has increased its assets under management more than 30% to nearly $10 billion.
“I believe that it is important to refresh leadership in any business and I am genuinely proud of the growth and improvement our team have achieved over the past 12 years,” says Marrison. “With the business on such firm footing, now is an opportune time for a talented leader with a global perspective to take it to the next level, and I look forward to working closely with Karen in the future to build on our collective momentum.”
Under Marrison’s leadership, LaSalle’s European business has seen significant growth and diversification, doubling its assets under management from $10 billion to more than $20 billion during the period. In addition to serving on LaSalle’s global management committee, Marrison has sat on all European investment committees and chaired the European management board. Marrison joined LaSalle in 2001 and has operated six funds in the region, launched the Continental European Separate Accounts business as well as the Debt & Special Situations business that now has a flagship fund series, and grown the firm’s pan-European Encore+ fund to a gross asset value of more than $2 billion.