LaSalle names PineBridge's Michael Raso global private wealth head

LaSalle Investment Management named PineBridge Investments' Michael Raso global head of private wealth, putting him over the group that runs JLL Income Property Trust and the JLL Exchange Delaware statutory trust program. He joined the JLL subsidiary Oct. 26.

Raso takes over the Private Wealth Group on Jan. 1, 2027, succeeding Allan Swaringen, who remains CEO of JLL Income Property Trust and a director. Swaringen created the group and launched both programs. Raso also joins LaSalle's Global Management Committee on that date, after a transition period, reporting to CEO Brad Gries and president and COO Tim Kessler.

For advisors who allocate to JLL Income Property Trust, the handover leaves continuity at the fund: Swaringen stays the fund's chief executive and a director. Product development passes to Raso. LaSalle says Raso will lead new private wealth products and work with regional teams to explore private wealth business development in their markets; the group is most developed in the Americas.

Raso brings more than 25 years in private wealth distribution and was Americas head of intermediary and retail distribution at PineBridge, now part of MetLife Investment Management, according to AltsWire. Before that he held senior distribution roles at Old Mutual Asset Management, Crosswind Investments, Artisan Partners, Natixis Investment Managers and Fidelity Investments. He chairs the executive committee of the Defined Contribution Institutional Investment Association.

The appointment follows LaSalle's hire of Brookfield's Marcus Day to lead LaSalle Global Solutions, as Private Wealth Daily previously reported. Day also formally takes over that platform on Jan. 1, 2027.