JLL Appoints Fraser Campbell-Wilson Head of City Capital Markets

LONDON, Oct. 12, 2026 — JLL has appointed Fraser Campbell-Wilson as head of its City Capital Markets team, the firm announced. Campbell-Wilson, who joined JLL in 2019, succeeds John Woodger, who was promoted earlier this year to lead Central London Capital Markets.

Fraser Campbell-Wilson Takes Over JLL's City Capital Markets Team

Campbell-Wilson has spent more than 15 years specializing in the Central London office market, with a primary focus on the City of London, according to JLL. Over the course of his career, he has advised on several of the City's high-profile investment transactions. His transactions include the acquisitions of 21 Moorfields and 5 Broadgate, as well as the recent sale of the London Fruit and Wool Exchange.

The appointment is a succession and coverage change rather than a restructuring. Woodger's promotion broadens his remit to the wider Central London market, while Campbell-Wilson assumes day-to-day leadership of the City team.

John Woodger Moves to Lead Central London Capital Markets

Woodger joined JLL as a graduate in 2010 and previously led the City Capital Markets team. He is now head of Central London Capital Markets at JLL.

"I am delighted to hand over the reins of the City team to Fraser. His deep market knowledge, exceptional track record and client following will be invaluable as he leads this highly talented group. JLL has a proud history of delivering first-class advisory across London's office market, and Fraser's integration into our leadership ensures we are perfectly positioned for continued growth," Woodger said.

City of London Office Market Backdrop

The appointment comes as the City office market is recovering but remains selective. Central London office investment volume reached £1.8 billion in the second quarter of 2026. Prime City yields stand at 5.25%, compared with 4.00% in the West End. The yield gap gives City assets a higher initial income return, but also reflects the market's greater exposure to older stock, financing costs and asset-management requirements. Investment activity has been moderated by elevated financing costs, energy prices and geopolitical uncertainty, according to BNP Paribas Real Estate.

Occupier fundamentals have improved. City-wide office vacancy fell to 9.4% at the end of the first half of 2026, down from 10.7% a year earlier and below the five-year average of 13.3%. Knight Frank reported a 6.2% vacancy rate in the City Core, down from 7.6% a year earlier. Prime City rents rose 11% year over year, according to Knight Frank, as occupier demand increasingly favored modern, high-specification buildings.

London could also face a cumulative undersupply of approximately 5.2 million square feet between 2026 and 2028, rising to 8 million square feet by 2029, as demand outpaces new delivery, Knight Frank data show.

JLL's Advisory and Capital Markets Performance

JLL (NYSE: JLL) reported $6.9 billion of revenue in the second quarter of 2026, up 11% in U.S. dollars and 10% in local currency year over year. Advisory revenue rose 21% in local currency, while Capital Markets Services, which includes investment sales and debt and equity advisory, grew 25%, excluding specified non-cash and mortgage-banking effects. Leasing advisory revenue rose 24% in the quarter.

First-quarter results showed a similar pattern: Advisory revenue increased 17%, while investment sales, debt and equity advisory and related Capital Markets Services revenue rose 23%.

JLL reports annual revenue of $26.1 billion, operations in more than 80 countries and a global workforce of more than 112,000 as of June 30, 2026. It invests on behalf of clients through LaSalle Investment Management.

Outlook for City Capital Markets Coverage

With JLL's Capital Markets Services business growing and City vacancy declining, the firm now has separate senior leadership for the City and the wider Central London market. Falling vacancy and rising rents are concentrated in higher-quality buildings, which puts a premium on detailed knowledge of building quality, lease structures and refurbishment potential. With financing still expensive, transaction execution and pricing advice are likely to matter alongside headline investment volume.

Sources

JLL, "JLL appoints Fraser Campbell-Wilson to lead city capital markets," Oct. 12, 2026: https://www.jll.com/en-uk/newsroom/jll-appoints-fraser-campbell-wilson-to-lead-city-capital-markets