Phillip Ling, co-chief executive officer, Asia Pacific for global real estate investment firm LaSalle Investment Management is set to retire from the firm.
Going forward, Mark Gabbay will continue as the sole chief executive officer for the region.
Ling will, however, continue to remain a non-executive director of the firm’s Australian business.
A long-serving executive at the firm, Ling first came on board as managing director for Asia in 2007 to lead its activities in the region, and went on to assume the role of a chief executive officer.
He is credited with remodelling the business by integrating the investment, asset management and portfolio management activities through the creation of a specific fund manager position. In 2012, he moved to Australia to steer LaSalle’s Australian operations along with continuing to co-lead the Asia business.
“Ling assisted in successfully steering LaSalle’s business through and post the global financial crisis by focusing on maintaining the value of pre-GFC acquired assets. These efforts enabled LaSalle to return more than 1X to investors on pre-GFC vintage funds, “said an official statement announcing Ling’s retirement.
“I would like to thank Phil for his hard work and commitment to building LaSalle’s Asia business over the past eight years. I am both professionally and personally delighted that he will retain strong ties to the firm through his role as non-executive director,” said Gabbay.