REV: JULY 1, 2010
Corporate Solutions at Jones Lang LaSalle (2001)
On a snowy, January morning in 2001, Peter Barge, the CEO of the recently formed Corporate Solutions Group (CSG) at Jones Lang LaSalle (JLL) Americas, was preparing for an upcoming meeting with Bank of America (BofA). Barge was cognizant of the meeting’s importance—BofA was one of JLL’s largest accounts and represented an ongoing growth opportunity for the real estate firm – that is, unless JLL lost the account. BofA, like many other multinational firms, was seeking to outsource its internal real estate management functions and pay for the convenience of an integrated service provider who would oversee all its real estate needs. Unfortunately, while JLL had always prided itself on being client-focused, it had not kept pace with the rapidly changing marketplace, a fact reflected in its recent lackluster financials. JLL was trying to respond; providing integrated services to BofA would allow the firm to test a new model of customer-focused operations. If the firm was successful with the BofA account, it would be well positioned to take advantage of the emerging market.
But for any of this to happen, Barge needed to convince BofA that JLL was serious about providing integrated account management services. The bank was growing increasingly frustrated with the lack of coordination among its different real estate providers and had announced plans to consolidate its business with the two or three who would be willing to “partner with it to provide forward-looking, integrated services. ”Barge wanted JLL to be one of those partners and felt that JLL’s recent restructuring efforts—the company was placing its three independent, product-based business units under a single organizational entity (CSG)—would be an attribute in this endeavor. As part of this plan the three units would remain autonomous, but would report to a single person, Barge. At the same time,...