LaSalle Taps PineBridge’s Raso to Succeed Swaringen as Private Wealth Head
LaSalle Investment Management, the real estate investment management subsidiary of Jones Lang LaSalle (NYSE: JLL), has hired PineBridge Investments distribution executive Michael Raso as global head of private wealth, putting him in line to lead the group that built the firm’s JLL Income Property Trust and JLL Exchange programs.
Raso joined LaSalle Oct. 26. Following a transition period, he will take over leadership of LaSalle’s Private Wealth Group and join the firm’s Global Management Committee on Jan. 1, 2027, reporting to Brad Gries, chief executive officer, and Tim Kessler, president and chief operating officer.
He succeeds Allan Swaringen, who led LaSalle’s entry into the private wealth segment, created the Private Wealth Group, and launched JLL Income Property Trust and the JLL Exchange Delaware statutory trust program. Swaringen will transition his Private Wealth Group duties to Raso and continue as chief executive officer of JLL Income Property Trust and as a member of its board of directors.
LaSalle said private wealth is a strategic priority for the firm and that Raso will lead the development of new products for private wealth investors. While the Private Wealth Group is most developed in the Americas, Raso will also work with LaSalle’s regional teams to explore private wealth business development opportunities in their markets, according to the company.
Gries said Raso’s background leading efforts across multiple distribution channels and expanding his former firm’s presence in the wealth and retirement marketplace made him the right leader to strengthen the platform and build out its product lineup.
“Private wealth is where I’ve spent my career, and I’m excited to bring that experience to LaSalle,” said Raso. “Investors and the advisers who serve them want strong platforms and well-designed products, and my job is to deliver both, working with the PWG team and our regional colleagues.”
Raso has more than 25 years of experience in private wealth distribution. He joins from PineBridge Investments, now part of MetLife Investment Management, where he had served as Americas head of intermediary and retail distribution since joining the firm in 2014, with responsibility for business development.
Before PineBridge, Raso was senior vice president and director of sub-advisory and institutional retirement at Old Mutual Asset Management. He previously held senior distribution and business development roles at Crosswind Investments, Artisan Partners, Natixis Investment Managers, and Fidelity Investments. He chairs the executive committee of the Defined Contribution Institutional Investment Association and sits on its operating committee. Raso is based in Boston.
Swaringen said Raso brings expertise in developing private wealth solutions that meet the needs of distribution partners, their advisers, and clients. “I’m looking forward to supporting him as he takes PWG forward, while I continue to lead JLL IPT,” Swaringen said.
As reported by AltsWire in September, JLL Income Property Trust – a daily net asset value, perpetual-life nontraded real estate investment trust managed by LaSalle and sponsored by JLL – fully subscribed JLLX Diversified 11, DST, a $197 million offering that holds seven industrial buildings totaling 646,000 square feet in Chicago’s O’Hare submarket; four health care buildings totaling 83,000 square feet across Florida, Massachusetts, Kansas, and Missouri; and a 49,000-square-foot grocery-anchored retail center in Las Vegas, according to the company.
JLL Income Property Trust has raised more than $7.1 billion since 2012, and JLL Exchange has placed more than $2.5 billion of investor capital across 30 DST offerings, the company said. LaSalle reported $86.8 billion in assets under management in private and public real estate equity and debt investments as of March 31, 2026.
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