8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): December 8, 2010

JONES LANG LASALLE INCORPORATED

(Exact name of registrant as specified in its charter)

Maryland	001-13145	36-4150422
(State or other jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

200 East Randolph Drive, Chicago, IL	60601
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (312) 782-5800

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01. REGULATION FD DISCLOSURE

Additional information of the registrant is attached as Exhibit 99.1 to this report and is incorporated herein by reference. The registrant undertakes no obligation to update this information, including any forward-looking statements, to reflect subsequently occurring events or circumstances.

NOTE: The information in this report (including the exhibit) is furnished pursuant to Item 7 and shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. This information will not be deemed an admission as to the materiality of any information contained herein that is required to be disclosed solely by Regulation FD.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

The following exhibit is included with this Report:

99.1. Jones Lang LaSalle December 2010 Investor Relations Presentation

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: December 8, 2010	JONES LANG LASALLE INCORPORATED
	By:	/s/ Joseph J. Romenesko
		Name: Joseph J. Romenesko
		Title: Executive Vice President and Treasurer

EXHIBIT INDEX

Exhibit 99.1 Jones Lang LaSalle December 2010 Investor Relations Presentation

EX-99.1

Investor Presentation

December 2010

Exhibit 99.1

Forward looking statements

2

Statements in this presentation regarding, among other things, future financial results and performance,

achievements, plans and objectives and dividend payments may be considered forward-looking statements within

the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown

risks, uncertainties and other factors which may cause actual results, performance, achievements, plans and

objectives of Jones Lang LaSalle to be materially different from those expressed or implied by such forward-looking

statements. Factors that could cause actual results to differ materially include those discussed under “Business,”

“Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,”

“Quantitative and Qualitative Disclosures about Market Risk,” “Cautionary Note Regarding Forward-Looking

Statements” and elsewhere in Jones Lang LaSalle’s Annual Report on Form 10-K for the year ended December 31,

2009 and in the Quarterly Report on Form 10-Q for the quarter ended September 30, 2010 and in other reports filed

with the Securities and Exchange Commission. There can be no assurance that future dividends will be declared

since the actual declaration of future dividends, and the establishment of record and payment dates, remains subject

to final determination by the Company’s Board of Directors.  Statements speak only as of the date of this

presentation. Jones Lang LaSalle expressly disclaims any obligation or undertaking to update or revise any forward-

looking statements contained herein to reflect any change in Jones Lang LaSalle’s expectations or results, or any

change in events.

© Jones Lang LaSalle IP, Inc. 2010. All rights reserved. No part of this publication may be reproduced by any means,

whether graphically, electronically, mechanically or otherwise howsoever, including without limitation photocopying

and recording on magnetic tape, or included in any information store and/or retrieval system without prior written

permission of Jones Lang LaSalle IP, Inc.

YTD 2010

FY 2009

FY 2008

(2)

Americas

42%

42%

35%

EMEA

25%

26%

32%             

Asia Pacific

23%

22%

20%           

LaSalle Investment Mgmt.

10%

10%

13%

Consolidated

100%

100%

100%

Property &

Facility

Management

25%

Project &

Development

Services        

13%

LaSalle

Inv.

Mgmt.

10%

Advisory

Consulting &

Other 12%

Leasing

32%

Capital

Markets

8%

United

States 43%

United

Kingdom  

10%

Continental

Europe        

17%

Greater  

China       

6%

Developing &

Other Countries

10%

Japan  4%

India 3%

Australia  

7%

Jones Lang LaSalle

(1)

Excludes equity losses

(2)

Includes Staubach

revenue commencing July 11, 2008

2009 Revenue = $2.5 billion

Leading integrated services and investment management firm

…

And Global Market Reach

Diversified Service Lines…

•

Leading global market positions bolstered by over

30 mergers and acquisitions since 2005

•

Corporate Outsourcing drives growth and provides

annuity revenue

•

LaSalle

Investment

Management

-

a

premier

global

investment manager winning new mandates

•

Cash generating business model with low leverage

balance sheet

Revenue by Segment

(1)

3

YTD Q3

2010

YTD Q3

2009

Revenue

$2.0B

$1.7B

% change in local currency

17%

(6%)

Net Income

$69M

($56M)

Adjusted Net Income

(1)

$81M

$15M

Earnings Per Share

$1.57

($1.50)

Adjusted Earnings Per Share

(1)

$1.83

$0.40

EBITDA

$179M

$42M

Adjusted EBITDA

(1)

$194M

$126M

Market Capitalization

$3.7B

$2.0B

Demonstrating competitive strength

•

Leasing revenue up by more than 20% in all

regions YTD; EMEA up 34% YTD

•

Property & Facility Management currently 25% of

global revenue

•

LaSalle Investment Management has raised more

than $5 billion in net capital commitments YTD

•

Adjusted operating income margin of 7.2% vs.

4.3% in 2009

YTD Q3 2010 Highlights

Financial Scorecard

(1)

Adjusted for restructuring and non-cash co-investment charges

4

Asia Pacific

Steady Broad-based Recovery in Revenue

Note: % reflects change in local currency terms over YTD Q3 2009

($ in millions;

% change in local currency )

Americas

EMEA

Leasing

Capital Markets &

Hotels

Property & Facility

Management

Project &

Development Services

Advisory, Consulting

& Other

Total RES

Operating Revenue

$410.2

$49.0

$182.7

$110.8

$80.1

$832.8

27%

97%

24%

4%

1%

21%

$133.4

$89.3

$102.3

$82.8

$83.6

$491.4

34%

34%

13%

16%

5%

20%

$97.1

$52.3

$214.4

$44.7

$46.8

$455.3

36%

55%

3%

33%

2%

16%

$640.7

$190.6

$499.4

$238.3

$210.5

$1,779.5

30%

52%

12%

8%

2%

19%

Total RES

Revenue

YTD Q3 2010 Real Estate Services

5

Solid Cash Flows and Balance Sheet Position

•

Strong cash from earnings growth

•

Paid first deferred Staubach

obligation

of $76 million

(2)

•

Renewed and extended credit facility

-

Capacity increased to $1.1 billion,

previously $840 million

-

Maturity extended to September 2015

•

Investment grade ratings affirmed:

Standard & Poor’s:

BBB-

Moody’s Investor Services:

Baa2

YTD Q3 2010 Highlights

Cash Flows

YTD Q3

2010

YTD Q3

2009

Cash from Earnings

$192

$135

Working Capital

(84)

(91)

Cash from Operations

$108

$44

Primary Uses

Capital Expenses

(1)

(23)

(31)

Acquisitions & Deferred Payment Obligations

(113)

(15)

Co-Investment

(25)

(26)

Dividends

(4)

(4)

Net Cash Outflows

($165)

($76)

Net Share Activity & Other Financing

(27)

192

Net Debt  (Borrowings) / Repayments

($84)

$160

Balance Sheet

Q3 2010

Q3 2009

Cash

$72

$57

Short Term Borrowings

29             

57

Credit Facility

253

292           

Net Bank Debt

$210

$292

Deferred Business Obligations

299          

392

Total Net Debt

$509

$684

($ in millions)

(1)

YTD Capital Expenditures for 2010 and 2009 net of tenant improvement allowances received were $22 million and $25 million, respectively

(2)

$78

million

due

less

$2

million

deferred

in

accordance

with

the

merger

agreement

6

(Outlook: Stable) 

(Outlook: Stable) 

Steady cyclical recovery continues

Capital Markets Leading Real Estate Fundamentals

Americas

EMEA

Asia Pacific

As of Q3 2010

Capital Values

Leasing Fundamentals

London,

Washington DC

Paris,

Seoul

Beijing

Capital Value

growth slowing

Capital Value

growth

accelerating

Capital Value

bottoming out

Capital Value

falling

Hong Kong

Detroit

Brussels, Dallas

Shanghai

Amsterdam,

Milan,

Mumbai,

Sydney

Moscow,

New York,

Sao Paulo

Chicago, San Francisco,

Singapore, Toronto

Berlin,

Philadelphia,

Stockholm, Tokyo

Paris, Stockholm

Beijing,

Hong Kong

London

,

Shanghai

Milan

Chicago, Rome,

Seoul

Rental growth

slowing

Rental growth

falling

Rental

growth

accelerating

Rents

bottoming

out

Detroit

Los Angeles,

New York

Brussels

Amsterdam, Atlanta,

Dallas

Berlin, Mumbai,

San Francisco,

Sydney, Tokyo

Moscow,

Singapore,

Washington DC

7

The

Jones

Lang

LaSalle

Property

Clocks

SM

Jones Lang LaSalle

Global strategy for renewed growth

G5

G1

G2

G4

G3

Build our leading local and regional market positions

Grow our leading positions in Corporate Solutions

Capture

the

leading

share

of

global

capital

flows

for

investment

sales

Strengthen LaSalle Investment Management’s leadership position

Connections: Differentiate by connecting across the firm, and with clients

8

Full productivity revenue of over $750 million

Acquisitions Since 2005 Growing Market Share

EMEA

Americas

Asia

Pacific

RL Davis

Leechiu

Creer

NSC

Sallmanns

Shore Industrial

Meghraj

Rogers Chapman

Littman Partnership

RSP Group

Area Zero

Hargreaves Goswell

Troostwijk

Makelaars

KHK Group

Camilli

& Veiel

GVA

Upstream

Tetris

Creevy

LLH Ltd.

Brune

Alkas

Kemper’s

Churston

Heard

Staubach

Spaulding & Slye

Zietsman

Klatskin

CRA

Standard Group

ECD

HIA

TCF

Strengthening

our platform

and

connecting

our people

Asset Realty Managers

G1

•

Middle Market Corporate Solutions

•

Leasing

•

Capital Markets

•

Property Management

•

Project & Development Services

•

Retail

•

Industrial

•

Energy & Sustainability Services

•

Infrastructure

Market share growth

Product and services expansion

9

YTD Q3 2010:      52% in local currency

(1)

Capturing incremental revenue

Local and Regional Services

Asia Pacific

EMEA

Americas

$593

$781

$753

$557

$317

$203

G1

($ in millions)

YTD Q3 2010:      29% in local currency

(1)

Full Year Comparison

(1)

Compared to YTD Q3 2009

Full Year Comparison

($ in millions)

Leasing

Capital Markets

10

Leading position with unique expertise across services & geographies

•

Accelerate new client wins and innovate for existing clients to broaden relationship

-

47 new wins, 31 expansions and 44 renewals in 2009

-

170 million sq ft added; 34% increase from December 31, 2008

•

Target new industry segments for continued market share growth

-

Replicate Financial/Pharma/IT success

Global Corporate Solutions

Integrated

Facility

Management

Transaction

Management

Project

Management

Lease

Administration

Mobile

Engineering

Energy &

Sustainable

Services

Strategic

Consulting

Corporate

Finance /

CMG

Client

Relationship

Management

G2

Corporate

Retail

Services

YTD September 2010 Update

•

Property & Facility Management revenue up

12% in local currency vs. Q3 2009 YTD

•

38 new wins, 22 expansions and 21 renewals

•

Project & Development Services revenue up 8%

vs. Q3 2009 YTD; corporates

starting to re-open

capital expenditure budgets

11

YTD September 2010

Update

Capture Global Capital Flows for Investment Sales

Positioned to leverage leading share as markets recover

G3

Source: Jones Lang LaSalle

35-40% growth in investment volumes projected in 2010

•

Volumes continuing cyclical recovery

•

Demand high for core products;

supply remains constrained

•

Global Hotels business gaining

momentum

12

LaSalle Investment Management

G4

Our # 1 priority: To deliver competitive investment performance

Product

Assets Under

Management

($ in billions)

Average

Performance

Private Equity

U.K.

$10.2

Above benchmark

Continental Europe

$3.9

Return +1x equity

North American

$12.4

Above benchmark

Asia Pacific

$6.6

Return +1x equity

Public Securities

$7.1

Above benchmark

Total AUM

$40.2 B

Context

•

Our track record is everything!

•

It’s

easy

to

invest,

but

it’s

hard

to

invest

prudently

Impact

•

Reputation intact, client loyalty has

strengthened

•

Capital

raising

YTD

Q3

2010:

$5.3

B net

-

Royal Mail takeover: £1.6 B + £300 M

new investment

-

$1.6 B for a new U.S. fund

13

$29.8 B

$40.6 B

$49.7 B

$46.2 B

AUM

($ millions)

$37.6 B

$21.5 B

$24.1 B

$23.2 B

2002 to 2009 Advisory Fee Compound Annual Growth Rate  = 16%

LaSalle Investment Management

G4

Accomplishments: 2000 -

Present

$40.2 B

Q3 Year-To-Date

Comparison

14

$83.4

$92.2

$101.4

$127.9

$178.1

$245.1

$277.9

$180.1

$176.2

$0

$50

$100

$150

$200

$250

$300

2002

2003

2004

2005

2006

2007

2008

Q3 YTD 2009

Q3 YTD 2010

•

Large, financially and operationally stable global companies will gain market share

•

M & A likely to reshape the landscape

•

Developed countries will be favored for new investment

•

Investors will favor lower risk investments

•

Retail (HNW) capital will increase in importance

•

Private equity funds may be smaller; investor preference for larger separate account relationships

•

Fee structures likely to undergo further scrutiny / change

•

Governance / compliance will ascend in importance

•

Stay the course re: organic growth priorities

-

Deepen relationships with major institutional investors across products, markets

-

Customize investment programs

•

Capitalize on core open-end fund products

•

Establish KAG to access HNW German retail deposits

•

Build a business in China

•

Catalyze growth with strategic acquisitions

-

Current business stable and profitable

-

Strong corporate balance sheet

•

Bolster our securities business by forming JVs with attractive distributors

LIM

Priorities

Current

Industry

Trends

LaSalle Investment Management

G4

Current industry trends & LIM priorities

15

Client First

www.joneslanglasalle.com

G5

Technology

JLL OneView

Connecting Across the Firm and With Clients

Technology enabling value added connections

16

Connecting

JLL to add

value for

clients

JLL

Brand

Market

Knowledge &

Experience

Thought

Leadership &

Research

Colleagues

Sharing

Relationships

Extensive

Capabilities

& Products

Premier Leading Global Platform

•Approximately 180 offices in over 60 countries worldwide

•Research-driven global investment management business

•Client demands for global expertise satisfied by few providers

Jones Lang LaSalle

Setting the industry standard for real estate service companies

Positioned for Short and Long Term Success

•Premier and expanding position in the corporate outsourcing space

•Expand share in local markets

•Leading global investment management business

Solid Financial Strength and Position

•Diversified revenues by service line and geography

•Solid balance sheet with investment-grade ratings

•Strong global platform positioned for opportunity & market recovery

17

Appendix

18

Asia Pacific

Q3 2010 Real Estate Services Revenue

Americas

EMEA

Leasing

Capital Markets &

Hotels

Property & Facility

Management

Project &

Development Services

Advisory, Consulting

& Other

Total RES

Operating Revenue

$152.6

$25.2

$62.6

$40.7

$28.0

$309.1

38%

127%

20%

16%

6%

29%

$47.8

$31.1

$32.6

$29.2

$28.6

$169.3

42%

11%

6%

20%

8%

18%

$35.2

$18.3

$75.6

$19.2

$16.7

$165.0

21%

13%

5%

69%

8%

15%

$235.6

$74.6

$170.8

$89.1

$73.3

$643.4

36%

34%

10%

25%

22%

Total RES

Revenue

2%

($ in millions; % change in local currency over Q3 2009)

Note: Segment and Consolidated Real Estate Services (“RES”) operating revenue exclude Equity earnings (losses).

19

Jones Lang LaSalle and The Staubach

Company closed the

transaction to merge operations on July 11, 2008

•

Staubach

to receive guaranteed payments of $613 million, plus additional

earn

out opportunities of up to $114 million based on performance milestones

-

$223 million consideration at close

-

$123 million paid in cash, $100 million paid in Jones Lang LaSalle stock

-

$390 million of deferred payments (present value $339 million)

-

1

st

payment

=

$78m

(paid

August

2010

per

contract

terms),

2

nd

payment

=

$156m

(August 2011),

3

rd

payment = $156m (August 2013)

(1)

•

Approximately $8 million of intangible asset amortization remaining

-

Less than $2 million anticipated in 2010

•

Approximately $2 million of P&L integration expense expected in 2010

Staubach

Acquisition

-

Transaction

Overview

(1)

2nd payment can be deferred an additional 12 months based on performance

20

London,

Washington DC

Paris,

Seoul

Hong Kong,

Shanghai

Beijing

Capital Value

growth slowing

Capital Value

growth

accelerating

Capital Value

bottoming out

Capital Value

falling

Americas

EMEA

Asia Pacific

Hong Kong

Detroit

Brussels, Dallas

Shanghai

Capital Values

Q3 2009

Q3 2010

Capital Value

growth slowing

Capital Value

falling

Capital Value

growth

accelerating

Capital Value

bottoming out

Singapore, Toronto

As of Q3 2010

Amsterdam, Milan, Sao Paulo,

Sydney

Berlin, Mumbai,

New

York, San Francisco

Stockholm

Brussels, Moscow,

Paris, Washington DC

Amsterdam,

Milan,

Mumbai,

Sydney

Moscow,

New York,

Sao Paulo

Chicago, San Francisco,

Singapore, Toronto

Beijing, London,

Seoul

Berlin,

Philadelphia,

Stockholm, Tokyo

Detroit, Philadelphia

Chicago, Dallas

Tokyo

21

The

Jones

Lang

LaSalle

Property

Clocks

SM

Paris, Stockholm

Americas

EMEA

Asia Pacific

Leasing Market Fundamentals

Q3 2009

London, Sydney

Amsterdam, Berlin,

Dallas, Milan,

San Francisco

Los Angeles, New York

Hong Kong,

Mumbai

Atlanta, Detroit, Seoul

Shanghai

Q3 2010

Beijing,

Hong Kong

London

,

Shanghai

Milan

Chicago, Rome,

Seoul

Detroit

Los Angeles,

New York

As of Q3 2010

The

Jones

Lang

LaSalle

Property

Clocks

SM

Brussels

Amsterdam, Atlanta,

Dallas

Berlin, Mumbai,

San Francisco,

Sydney, Tokyo

Moscow,

Singapore,

Washington DC

Chicago, Rome

Stockholm,

Washington DC

Brussels,

Singapore

Beijing, Paris

Moscow, Tokyo

22

Rental growth

slowing

Rental growth

falling

Rental

growth

accelerating

Rents

bottoming

out

Rental growth

slowing

Rental growth

falling

Rental

growth

accelerating

Rents

bottoming

out

Note: % reflects change in local currency terms over comparable period in the prior year

($ in millions)

Separate Account

Management

(Firm’s co-investment =

$17.0M)

•

$19.0 billion of assets

under management

(16% increase from 2009)

(1)

AUM data reported on a one quarter lag

Fund Management

(Firm’s co-investment =

$160.0M)

•

$14.1 billion of assets

under management

(13% decline from 2009)

Public Securities

(Firm’s co-investment =

$0.1M)

•

$7.1 billion of assets

under management

(42% increase over 2009)

Q3 2010 Statistics

(1)

Q3 2010

YTD 2010

New Separate Accounts Mandates

$500

$4,200

Net New Equity for Funds and Public Securities

500

1,100

Net New Capital Commitments

$1,000

$5,300

Total AUM

$40.2 billion

Operating Revenue

1%

5%

Capital Raising Summary

A premier global investment manager

LaSalle Investment Management

23

Separate Account

Management

(Firm’s co-investment =

$17.0M)

•

$19.0 billion of assets

under management

(16% increase from 2009)

•

Advisory fees

•

Transaction fees

•

Incentive fees

•

Equity earnings

(1)

AUM data reported on a one quarter lag.

Fund Management

(Firm’s co-investment =

$160.0M)

•

$14.1 billion of assets

under management

(13% decline from 2009)

•

Advisory fees

•

Incentive fees

•

Equity earnings

Public Securities

(Firm’s co-investment =

$0.1M)

•

$7.1 billion of assets

under management

(42% increase over 2009)

•

Advisory fees

Description

Q3 2010 Statistics

(1)

Typical Fee

Structure

Europe Private

Equity

$14.1

35.1%

North American

Private Equity

$12.4

30.8%

Asia Pacific Private

Equity

$6.6

16.4%

Total Private

Equity

$33.1

82.3%

Total Public

Securities

$7.1

17.7%

Total AUM

$40.2

100%

Product

Assets Under

Management

%

($ in billions)

A premier global investment manager

LaSalle Investment Management

24

($ in millions)

Reconciliation of GAAP Net Income (Loss) to

Adjusted Net Income

25

2010

2009

2010

2009

GAAP net income (loss)

37.1

$     

19.8

$     

69.1

$     

(56.1)

$    

Shares (in 000's)

44,089

43,300

44,064

37,432

GAAP earnings (loss) per share

0.84

$     

0.46

$     

1.57

$     

(1.50)

$    

GAAP net income (loss)

37.1

$     

19.8

$     

69.1

$     

(56.1)

$    

Restructuring, net of tax

0.3

3.6

4.2

31.1

Non-cash co-investment charges, net of tax

0.7

3.2

7.4

40.4

Adjusted net income

38.1

$     

26.6

$     

80.7

$     

15.4

$     

Shares (in 000's)

44,089

43,300

44,064

38,880

Adjusted earnings per share

0.86

$     

0.61

$     

1.83

$     

0.40

$     

Three Months Ended

September 30,

Nine Months Ended

September 30,

Note: Basic shares outstanding are used in the calculation of GAAP EPS for the nine months ending September 30, 2009, as the use of dilutive shares

outstanding would cause that EPS calculation to be anti-dilutive.

($ in millions)

Reconciliation of GAAP Net Income (Loss) to

EBITDA and Adjusted EBITDA

26

2010

2009

2010

2009

Net income (loss)

37.1

$       

19.8

$       

69.1

$       

(56.1)

$     

Interest expense, net of interest income

11.5

16.3

35.7

43.6

Provision (benefit) for income taxes

11.1

3.5

20.8

(9.8)

Depreciation and amortization

17.7

18.7

53.0

64.6

EBITDA

77.4

$       

58.3

$       

178.6

$     

42.3

$       

Non-cash co-investment charges

0.9

3.7

9.6

47.5

Restructuring

0.4

4.2

5.5

36.6

Adjusted EBITDA

78.7

$       

66.2

$       

193.7

$     

126.4

$     

Three Months Ended

September 30,

September 30,

Nine Months Ended