| Jones Lang LaSalle Inc |
200 E. Randolph Drive,
Chicago,
IL
60601 |
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www.joneslanglasalle.com
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(312) 782-5800
Fax: (312) 782-4339
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The creation of a giant
With over 400 properties and offices worldwide, Jones Lang LaSalle Partners employs more than 6,000 employees in 34 countries and offers a range of related services. Founded in Chicago in 1968 as LaSalle Partners Inc., its initial services were investment banking, investment management, and land. The firm began offering development management, property management, and leasing and tenant representation services in the 1970s, setting a new standard for professionalism in the real estate business. LaSalle's strategy was to maintain long-term client relationships by providing a broad spectrum of real estate services. LaSalle acquired the assets of real estate investment advisor Alex Brown Kleinwort Benson Realty Advisors Corporation (ABKB) in 1994, creating the securities investment subsidiary ABKB/LaSalle. ABKB/LaSalle was an industry leader, offering small property investment expertise and a real estate securities investment capability. LaSalle established CIN LaSalle Investment Management, the largest real estate investment management firm in the U.K., through its 1996 acquisition of CIN Property Management. The April 1997 merger with The Galbreath Company made LaSalle Partners the largest manager of office properties in the U.S., with consolidated management operations known as Galbreath LaSalle Development, Inc. The firm's corporate and financial services group provides tenant representation and real estate investment banking services, and its investment management group provides real estate investment advice and administration services.
A change in name
LaSalle Partners Inc. merged with the Britain-based Jones Lang Wootton in 1999 to create one of the largest real estate services in the world. The company changed its name to Jones Lang LaSalle Inc. to reflect the merger, and elected Stuart Scott as chairman and CEO of the new company. With the merger, Jones Lang Wootton's strengths in the Asia/Pacific region and Europe combined with LaSalle's North American market. Jones Lang LaSalle is now focusing on expanding its influence through joint ventures due to increased competition from big brokerage firms that offer many of the same services. A joint venture with PG&E Energy Services was announced in 1999 to create investment opportunities for commercial properties accross the country. However, the company views the fact that its leasing agents have paid salaries rather than commission-based incentives as a huge advantage over competitors. The company has also formed an alliance with three media companies - eLink Communications, Urban Media, and Winstar Communications - in a venture designed to bring B2B opportunities to its customers. Jones Lang LaSalle also has a partnership with competitors Crow Co. and CB Richard Ellis to further strengthen its B2B offerings while rolling out B2C interactions as well.
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Jones Lang LaSalle looks for energetic individuals with a team orientation and a commitment to excellence. Ideal applicants are MBA candidates with backgrounds in finance, general management, marketing, consulting, accounting, and the public sector; no prior real estate experience is necessary. One Jones Lang LaSalle employee said applicants preparing to interview should "concentrate their preparation on why they want to work in real estate vs. other financial services and why they want to work for Jones Lang LaSalle." Another insider suggests that "it is a good idea to speak with a few people in the company prior to interviewing if possible." Jones Lang LaSalle posts available positions on its web page located at www.lasalle.com/jobs/leasmgt.htm. The listings are divided into positions available in management services, corporate and financial services, ivestment management, and analyst opportunities. Send or fax resumes to human resources at headquarters in Chicago.
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Escape the I-banking grind at LaSalle
Employees praise LaSalle's well-established analyst program for being less intense than similar programs at investment banks, "I had a life, but feel I got just as valuable an experience," one employee notes. The culture is described as "conservative, but not stifling," with formal dress and casual Fridays. Pay and benefits are competitive. One female financial analyst describes working at LaSalle as a "great experience," noting that while most of the senior management are men, nearly half of the analysts are women. Overall, insiders describe their jobs as "positive and rewarding."
Human Resources
Real estate management;Corporate and financial services;Investment management services
American Real Estate;Carey Diversified;CarrAmerica Realty Corporation;Grubb & Ellis;Insignia Financial Group;National Realty;Shorenstein;
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