Jones Lang LaSalle (JLL), the global real estate services firm, has hired two professionals from CBRE in China as it continues to rebuild its Asia team, according to a JLL statement.
The firm has hired Oscar Chan and Dominic Ho as regional director and national director respectively for its China capital markets team bringing the capital markets team in the country to 10 professionals. Both will be based in Hong Kong and have already started their new roles, according to a JLL spokeswoman.
The hires are the latest blow in a personnel battle brewing in Asia between long-term global rivals JLL and CBRE. In March last year, CBRE poached five members of JLL’s Asian corporate finance team, led by Nick Crockett. JLL announced two hires immediately following the departure, but this is the first time since then that JLL has hired back from CBRE.
Chan was an executive director at CBRE based in China, and he has worked in China’s real estate market for approximately 9 years. Ho was a senior director in the investment department at CBRE, and has about 10 years of experience in China real estate investment altogether, including five years at rival firm DTZ.
Ho and Chan will work closely with JLL’s Hong Kong capital markets team to help clients in the acquisition and disposure of real estate in China.
“Dominic and Oscar have extensive knowledge of the workings of the real estate sector in China, and this will allow them to achieve the best results for investment clients,” Joseph Tsang, managing director and head of Hong Kong capital markets, said in the statement. “They will work with their colleagues in the Hong Kong capital markets team to help clients direct capital in and out of Hong Kong.”
Operating in 70 countries worldwide and 14 in Asia Pacific, JLL provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management.