JLL India said that its CEO Ramesh Nair has quit the US based consultancy. He will be succeeded by Radha Dhir who earlier worked wih Deutsche Bank India and Yes Bank. "Ramesh Nair is leaving JLL to pursue opportunities outside the firm," the firm said on Tuesday.
When contacted, Nair said,"I am considering a couple of options and I will take a call soon." However, he will have to serve a gardening leave in line with the rules of JLL.
Dhir earlier served as group president at Yes Bank, where she was head of multinational corporate banking. Prior to that, she was managing director, head of Global Subsidiary Coverage Group, Deutsche Bank India, and a member of the Deutsche Bank India's Executive Committee.
Nair joined JLL as an analyst in 1999. He rose through the ranks to become chief operating officer in 2013 and then CEO of the India business in 2017. He was also a member of the Asia Pacific Executive Board. In his time with the firm, he has overseen multiple businesses and functions, and has been a valued advisor to many domestic and multinational real estate owners, occupiers and investors, helping to deliver successful projects of the highest quality across asset classes and geographies, JLL said.
“Ramesh Nair has been a great asset to JLL in his two decades with the firm. I am grateful for his service, his commitment, and I thank him for the immense contribution he has made in building the business over the years. He has much to be proud of as he passes the baton to Radha Dhir, with JLL India in a strong position for future growth and with a high performing and ambitious leadership team,” said Anthony Couse, CEO, JLL Asia Pacific.
“I am honoured to be joining JLL at this critical time in India’s growth and development as we look towards a post-Covid future,” said Radha Dhir. “I have admired the JLL brand for some time and witnessed its growth and success over the past decade. I now look forward to bringing my experience from 25 years in the banking industry to JLL’s business, and to collaborating with the top-notch India leadership team,” she said.
As CEO, Dhir will set the overall strategic direction of JLL India, tapping into the growth opportunities of this fast maturing market. The real estate sector in India is expected to reach a market size of $1 trillion by 2030 and contribute 13% to the country’s GDP by 2025, according to figures from the India Brand Equity Association.
Dhir will join JLL on January 25, 2021. She will report to Asia Pacific CEO Anthony Couse and will be a member of the Asia Pacific Executive Board. She will also chair the India Leadership Council.
In India, JLL has presence across 10 major cities (Mumbai, Delhi NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata, Ahmedabad, Kochi and Coimbatore) and in over 130 tier 2 and 3 markets with a workforce of close to 12,000 professionals.