JLL Names New Global President for Financial Services Division
JLL has promoted Mark Kreisman to global president of its financial services division, overseeing roughly 10,000 executives who advise banks on their real estate portfolios. Kreisman took the role Monday, replacing Bobby Magnano, who moved to lead the company's eastern U.S. operations.
The division advises financial services firms-including HSBC and Webster Bank-on property decisions across 1 billion square feet of global real estate. It launched in December 2022 to help banks manage real estate portfolios in the post-pandemic era.
AI adoption now a core focus
Kreisman's 18-year tenure at JLL includes a recent role as global head of corporate real estate, where he oversaw the company's property portfolio across more than 80 countries. He previously worked in financial services before joining JLL.
One of his stated priorities is expanding AI use across the division's client base. "Financial services clients are at the forefront of AI adoption, with many having used AI over the past several years," Kreisman said. He uses AI daily in his own work and encourages other executives to do the same.
The numbers back the trend. About 91% of financial services firms now use AI, up from 65% last year, according to JLL data. Additionally, 31% of corporate real estate leaders expect technology budgets to grow by more than 15% over the next three years.
Regulation remains a barrier
Kreisman identified a key challenge for financial services firms adopting AI: ensuring tools work within regulatory frameworks. Banks and other regulated institutions face stricter compliance requirements than many other sectors.
He also noted an unexpected real estate trend tied to AI growth. San Francisco's office leasing rebound has been driven partly by AI firms establishing operations there-a shift that underscores how technology adoption reshapes physical space demand.
Kreisman will report to Sanjay Rishi, CEO of JLL's Work Dynamics division and head of global industries. Rishi said Kreisman's "deep industry expertise" and track record make him suited to lead the division through its next growth phase.
Despite rapid technological change, Kreisman sees the real estate industry circling back to earlier priorities. "Early in my career in financial services, there was a focus on retail banking," he said. "And it's certainly coming back. Banks are still focused on their banking retail footprint."
For executives in strategy roles navigating AI adoption, the financial services sector offers a case study in how mature industries balance innovation with compliance. Learn more about AI for Executives & Strategy and AI for Finance.
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