14 April 2016 – Expansión
JLL España, the consulting firm that specialises in real estate management has appointed Enrique Losantos (pictured above) as its new CEO. Until now, Mr Losantos has served as the Director General of the Investor Business area, a task that he will continue to combine with his new responsibilities as the head of the company.
In a meeting with Expansión, Losantos has fleshed out the business plan that he will have to execute as the company’s most senior executive. The new CEO of JLL España explained that the consultancy firm’s strategy involves strengthening its Corporate Solutions area, to bring it in line (in terms of weight) with the Investor Business area, and to provide new value added services that place the customer at the centre and that operates “ by project, not by product”.
Losantos explained that this new strategic focus will allow the group to offset the different economic cycles. “This model behaves well in times of a cyclical change, because both areas complement each other”, he said. Thanks to these two main business lines and the strategic purchases that JLL is analysing, the professional services firm expects to double its turnover in Spain by 2020, from €58 million in 2015.
In terms of acquisitions, Losantos did not provide details about the type of company, or the amount of forecast investment, but he did reveal that they are assessing local companies with operations in Europe, as well as European companies with activities in Spain that generate added value and provide additional services. “We are responsible for studying the local businesses, meanwhile the global acquisitions department analyses (overseas) companies with businesses in Spain”, he said.
Losantos said that JLL considered purchasing Tinsa, which the market valued at around €300 million, but that it ruled out that operation on the basis that it did not generate the required value. “We have the capability to make investments of that kind and we have authorisation from the Board to submit deals of that size or even larger, but we are going to focus on operations that have basic economic rationale and that generate value for the company. In this case, we thought that those conditions were not met, for several reasons”, added Losantos. JLL España’s other priorities include digital transformation and investment in technology and big data.
Original story: Expansión (by Rebeca Arroyo)
Translation: Carmel Drake