CHICAGO—LaSalle Investment Management has hired Jason Kern, a managing director at Hong Kong and Shanghai Banking Corporation (HSBC), as its new CEO for the Americas. Kern, who replaces outgoing Peter Schaff, will be based in Chicago.

Kern founded HSBC’s Asia-Pacific Real Estate & Lodging Advisory Group in 2009 and has built it into a successful real estate investment banking franchise in Asia. During the past three years, Kern and his team have advised on some of the most high profile IPOs, equity and bond issues, private equity raises and asset acquisitions and sales in the Asian property sector, with total transaction volume exceeding $50 billion. Kern will report to Jeff Jacobson, LaSalle’s global CEO, and will join the Global Management Committee and the North American Private Equity Investment Committee.  

 “Since Peter Schaff announced his decision last year to step down as North America CEO, we have conducted a broad search for his successor,” said Jacobson in a statement. “Our key criteria has been to find a leader who will sustain our core competencies and values while also adding the new skills to adapt to the rapidly changing and increasingly global real estate investment management industry.”

Peter Schaff will remain with the firm until the end of 2013 in the part-time role of North America chairman, focusing on selected client relationships and investment mandates and assisting with Kern’s transition into the firm.