Sullivan will shift full-time to the new job of e-business chief from his post as CFO after the first of the year. Peter Roberts, formerly co-president, tenant representation in the Americas for Jones Lang, will take over the CFO slot.
"I expect savings in our procurement cost of anywhere between 7.5% and 15% annually as we ramp up this on-line procurement joint venture over the next couple of years," says Sullivan. "We expect to pass these savings along to our clients."
Sullivan said that Jones Lang LaSalle is working on "a number of new e-business initiatives," but declined to be specific.
In July, Jones Lang LaSalle, CB Richard Ellis and Trammell Crow announced an e-business partnership with real estate e-marketplace SiteStuff. The three companies will pool their purchasing power on-line for such items as cleaning services, building materials and even electricity.
The three companies have annual combined real estate product and services purchasing power of $5 billion for their combined 1.2 billion sf of property.
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