JLL Names Dan O'Connor Head of Capital Markets in Ireland Leadership Overhaul

JLL has appointed Dan O'Connor as Head of Capital Markets and Hotels, Ireland, effective Sept. 1, 2026, as part of a broader leadership succession plan for its Ireland business announced Sept. 21, 2026. The move is part of a wider restructuring that will place Deirdre Costello in the CEO Ireland role and transition John Moran to chairman, both effective January 2027.

Dan O'Connor Takes Immediate Control of Capital Markets

O'Connor's appointment is the only change in the succession plan already in effect. He succeeds Moran in the capital-markets leadership role while retaining responsibility for the Hotels business, a portfolio he has overseen since becoming Head of Hotels & Living Ireland in 2023. His nearly 20-year career at JLL has included advisory work across hotels, residential and the broader living sectors.

"Ireland's investment market continues to present significant opportunities for clients across asset classes," O'Connor said in a statement. "I am looking forward to working with our teams across all Capital Markets service lines to help clients navigate change, unlock value and achieve their strategic objectives."

The decision to combine capital markets and hotels under a single leader reflects the composition of Ireland's current investment activity. Living assets — including multifamily and social housing — accounted for 34% of Irish living-sector investment in the first half of 2026, while industrial represented 38% of total first-half investment volume. Hotels and alternative asset classes have drawn increasing investor attention as the market moves away from its earlier concentration in traditional office transactions.

Costello and Moran Transitions Set for January 2027

Costello, who has spent more than 30 years at JLL and currently serves as Head of Leasing Advisory, will become CEO Ireland in January 2027. She will retain her leasing leadership responsibilities alongside the new role, giving her oversight of both occupier services and the firm's broader Ireland operations. She succeeds Moran, who has served as CEO Ireland since 2009.

"JLL has been my professional home for more than 30 years, and I am incredibly proud to have the opportunity to lead our Ireland business," Costello said. "We have a very talented team, extremely strong client relationships and a tremendous platform for growth. I look forward to building on the strong foundations already in place and working with colleagues across JLL to deliver exceptional outcomes for our clients in Ireland."

Moran, who has been with JLL for more than 40 years, will move into the newly reintroduced role of Chairman, Ireland. The chairman position is designed to preserve his senior client relationships and market connectivity as the firm transitions day-to-day leadership.

"It has been a privilege to lead JLL Ireland for the past 17 years," Moran said. "I am incredibly proud of what we have achieved together and the talented team we have built. I am excited to continue supporting the business in the role of Chairman as JLL Ireland enters its next phase of growth."

Matthew Richards, CEO of JLL UK and EMEA Capital Markets, said the appointments reflect the firm's approach to internal development. "These appointments reflect the exceptional leadership talent we have within JLL and our commitment to developing people throughout their careers," Richards said. "Deirdre brings a clear vision for the future of the business, John will continue to provide invaluable leadership and client connectivity as Chairman, and Dan's expertise and commercial acumen make him ideally placed to lead Capital Markets."

An Internal Succession Across Three Decades of Tenure

JLL described the three executives as bringing more than 90 years of combined experience at the firm, a figure that underscores the succession plan's reliance on internal promotion rather than external recruitment. The structure separates the country CEO role from capital-markets leadership, while the reintroduction of a chairman position allows Moran to remain active in the business.

Costello's background in leasing advisory is particularly relevant given Dublin's office market dynamics. Total Dublin office vacancy fell to 12.2% at the end of the second quarter of 2026, down from a peak of 15.9% in the first quarter of 2025. Vacancy in the Dublin 2 submarket stood at approximately 9.8%, near its decade low. Despite the improvement, Grade A offices accounted for 52% of Dublin's 579,700 square metres of vacant space, and the gap between prime and secondary stock remains a defining feature of the market.

Dublin office take-up reached nearly 960,000 square feet in the first half of 2026, with 56% of second-quarter leased space concentrated in Dublin 2. Prime rents were forecast to reach approximately €70 per square foot by year-end, with pre-let rents potentially reaching €75 to €80 per square foot. Approximately 77% of space scheduled to complete by the end of 2026 was already pre-let.

Capital Markets Recovery Shapes O'Connor's Mandate

O'Connor assumes the capital-markets role as transaction activity in Ireland recovers from the low-volume period that followed the rapid rise in interest rates. Irish investment volumes exceeded €1 billion in the second quarter of 2026, the strongest second-quarter result in four years. Within Dublin offices, second-quarter investment reached approximately €183 million, with prime office yields reported at 4.75%.

JLL's own 2026 Ireland outlook projected total Irish real estate investment of €3.5 billion to €4 billion for the year, as assets return to the market and deferred transactions complete. The firm described the Irish market as entering a more structured and positive phase, with improving fundamentals and renewed activity across offices, industrial, retail and living sectors.

The combination of O'Connor's hotels expertise with broader capital-markets oversight positions JLL's Ireland team to serve clients across a range of asset classes at a moment when investor demand is diversifying beyond traditional office and retail categories.

Sources

JLL Newsroom: JLL Announces Leadership Succession Plans for Ireland