FRANKFURT, GERMANY-Jones Lang LaSalle has hired Frank Porschke as its new CEO for Germany, as the country readies for its recently booming economy to slow due to economic pressures throughout the Eurozone. Porschke will succeed Andreas Quint, who becomes head of the firm’s Corporate Finance division for the Europe, Middle East and Asia (EMEA) region.
Porschke was most recenltly the chairman of the management board for Eurohypo AG. A company spokesman did not return a request for comment for this story.
Christian Ulbrich, CEO of the EMEA region for Jones Lang LaSalle, said in a statement that he’s known Porschke for many years. “His outstanding leadership track record and contacts will enable us to drive the next phase of the exciting and high potential growth of our business in Germany,” Ulbrich said.
The country had been recording a successful first half, with transaction volume increasing by 19% from the first half of 2010. The country had been seen as a safe haven for investment, according to a first half JLL study.
However, the recent uncertainty seen this summer due to debt-resolve questions for Greece and Spain, as well as problems from the US markets, knocked back a lot of gains throughout Europe. Experts such as the Organization for Economic Cooperation and Development have recently predicted that both Germany and Italy will see economic contraction and at least one down quarter this year.
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