LaSalle Investment Management has appointed Keith Fujii as the new CEO and president of its Japan business.

Fujii replaces Yas Nakashima, who will continue to serve as a representative director of LaSalle Investment Management KK, LaSalle Group’s Japan-based corporate entity. Nakashima will also continue to support the group’s Japan logistics platform.

Meanwhile, Fujii will now spearhead the LaSalle platform for investments in core-oriented strategies in Japan. She will be based in Tokyo for the new role.

At the same time, Fujii will serve as the representative director and president of LaSalle Investment Management KK.

He will also have a seat on the board of LaSalle REIT Advisors KK, asset manager of the firm’s Japan logistics vehicle LaSalle Logiport REIT.

Fujii has an experience of more than 25 years in the real estate investment and banking industries. He most recently served as the CEO at Ishin Hotel Group.

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Fujii previously also had stints at Bank of America Merrill Lynch, Grove International Partners and Shinsei Bank.

LaSalle Investment Management CEO and CIO for Asia Pacific Mark Gabbay said: “Keith has a deep understanding of the Japanese real estate market, and is a strong leader with successful experience managing large teams to achieve their investment goals.

“With about $5bn of our regional AUM located in Japan, and a significant source of LaSalle Global Securities’ capital coming from the domestic market, Japan is an important and growing part of our business. Keith’s joining will strengthen LaSalle’s regional leadership as we further expand our core platform and diversify across asset types in Japan.”