JLL reshaped its project and development services group, which includes managing the design and construction of client projects, into a global division, part of the brokerage's efforts to increase revenue as fees from transactions lag.
As part of the reorganization, JLL elevated Cynthia Kantor to fill the new position of CEO of project and development services, also known as PDS. Kantor, based in Atlanta, will oversee a new leadership team that's unified under a global structure to provide clients with access to JLL's professionals across the globe.
As part of the move, JLL appointed Nick Winter as its new leader for the Europe, Middle East and Africa region. The firm said Martin Hinge will continue in his role in the Asia-Pacific region.
“There are many enduring trends shaping the evolution of the built environment, and the needs of our diverse clients are changing with them,” Kantor said in a statement. The move "allows us to adapt to the dynamic needs of the market" while operating more efficiently, she said.
The brokerage said the structure will let JLL position its project and development services business for further expansion.
Growing Services Revenue
Brokerages have been coping with reduced fees for representing clients in leasing and sales transactions. Last year, declines in that income fell to lows not seen since the early months of the pandemic as higher interest rates left buyers and sellers on the sidelines, though that trend shows some sign of easing with Colliers, the first of the major brokerages to report its fourth-quarter and year-end earnings, saying this month it expects revenue to rise as much as 10% in 2024 as deals pick up.
Along with her promotion, JLL's Kantor, will continue to serve as chief client and growth officer in the firm's workplace dynamics group. As CEO of PDS she now also leads all product and development services, ‘including managing the construction, development, design and branding of commercial real estate projects,’ the brokerage said.
Several enduring trends are shaping the evolution of the built environment, and Kantor said a globally unified group will help JLL clients navigate them. The move comes as occupiers continue to try to find ways to entice workers to come back to the office every day after the pandemic.
The services leadership team also includes Nicasio Gutierrez, who will keep leading Tétris, the interior design and building business based in EMEA; Julie Hyson, who leads the business working with Work Dynamics and Integrated Portfolio Services clients as head of Americas PDS Portfolio Clients, Services and Industries; and Louis Molinini, who is responsible for driving growth, sales and project execution as the Americas PDS variable business lead.
The leadership team also includes Alex Moore-Barrow, in charge of commercial governance globally as head of strategy and commercial; Jaymie Gelino, global and Americas chief operating officer and head of the design solutions business in the Americas; Ben Jackson, responsible for driving PDS growth in large developments as the landmark growth and client strategy lead for EMEA and APAC; and Ethan Milley, who oversees growth in large developments as the head of landmark growth and client strategy for the Americas.