One of the larger players in the real estate investment sector, LaSalle IM oversaw $86.8 billion of AuM at the end of March this year.

LaSalle Investment Management, a global real estate investment manager, has appointed Michael Raso as global head of private wealth. 

After a transition period, from the start of January, Raso will take up leadership of the firm’s private wealth group and join its global management committee. He will report to Brad Gries, CEO of LaSalle, and Tim Kessler, president and COO. 

The firm, which managed $86.8 billion of assets as of the end of March, said the private wealth area is a “strategic priority.”

While PWG is most developed in the Americas today, Raso will also work with LaSalle's regional teams to explore business development opportunities for private wealth in their markets. 

Under the leadership of Allan Swaringen, LaSalle entered the private wealth segment, created the PWG, and launched and grew its flagship JLL Income Property Trust (JLL IPT) and JLL Exchange programs. Swaringen will move his PWG leadership duties to Raso and continue as CEO of JLL IPT and on its board of directors. 

Raso will be joining from PineBridge Investments, now part of MetLife Investment Management, where he has been Americas head of intermediary and retail distribution. He joined the firm in 2014.