Savills Investment Management Names Shu Watanabe Head of Japan Operations

LONDON — Savills Investment Management has appointed Shu (Shusaku) Watanabe as Head of Japan, effective September 1, 2026, the global real estate investment manager announced July 15. The move reinforces the firm's existing presence in the Japanese market and comes during a period of broader leadership and strategic change across the Savills group.

Watanabe's Background and Experience

Shu Watanabe brings more than 26 years of experience across global real estate investment, spanning advisory, equity and debt. Over the course of his career, he has been involved in more than $20 billion of investment transactions in Japanese real estate, working across office, multifamily, logistics and retail sectors within both local and global firms.

Most recently, Watanabe served as Managing Director and Head of Japan for Nuveen, where he established the firm's real estate business in Japan and executed and managed investment strategies and transactions on behalf of clients. He has also held senior investment roles at JP Morgan Asset Management, Macquarie Capital Securities, Morgan Stanley Japan, and Itochu Corporation. Over the past 15 years, he has launched three Japan country-specific funds.

Michael Neal, Global Chief Investment Officer and Interim CEO for Savills Investment Management, said in a statement: "Shu is a highly respected investment manager in Japan with an enviable industry track record. We are delighted to bring him on board to lead our business in Japan where we see significant opportunities for growth and a strong market opportunity for clients. He will bring a wealth of experience with strong leadership and I very much look forward to working with him, again."

Watanabe said: "I am very much honored and excited to join Savills Investment Management and work alongside great people, with the aspiration of further growing the business in Japan. As the Japanese market continues to evolve creating compelling investment opportunities for our clients, I am thrilled to work as part of the Savills Group combining global presence with local expertise."

Leadership Transition at Savills Investment Management

The appointment coincides with a leadership transition at the top of Savills Investment Management. Alex Jeffrey, who served as CEO of Savills Investment Management for seven years, stepped back from day-to-day management at the end of June 2026 and moved into a Senior Advisor role focused on senior client relationships and strategic expansion. Michael Neal, who joined Savills Investment Management in January 2025 from Nuveen — where he was CIO and Head of Funds Management — assumed the role of Interim CEO effective July 1, 2026, while retaining his responsibilities as Global Chief Investment Officer. Neal has more than 30 years of experience in global real estate.

The hiring of Watanabe, who also previously worked at Nuveen, represents one of the first major regional leadership appointments under the firm's new interim chief executive.

Parent Company's Broader Strategic Moves

The Japan appointment is taking place against a backdrop of significant activity at the parent company level. In March 2026, Savills plc agreed to acquire Eastdil Secured LLC for an enterprise value of approximately $1.1125 billion — one of the largest transactions in the company's history. The deal is structured with £411 million in cash and £274 million in new Savills shares, representing a total enterprise value of £827 million, and is expected to close in the second or third quarter of 2026, subject to regulatory approvals. Upon completion, Eastdil's existing equity holders will own approximately 16% of the enlarged group.

The combination is intended to establish Savills as a global leader in real estate investment banking and capital markets advisory, particularly for commercial property transactions above $100 million, and is projected to make the combined firm the second-largest advisory firm globally for large commercial transactions.

Savills Investment Management has previously expanded its platform through acquisition, including the integration of SEB Asset Management AG, which broadened the firm's European fund management capabilities and institutional client base, and resulted in SEB Investment GmbH being renamed Savills Fund Management GmbH.

Japan Market Context

Japan has been a core Asia-Pacific target market for Savills Investment Management, with a track record in income-focused strategies spanning logistics, office and residential sectors. The appointment of a dedicated country head with Watanabe's depth of local experience signals an intent to scale the existing platform rather than establish a new market presence.

Japan's commercial real estate market has attracted heightened cross-border capital interest in recent years, driven in part by the Bank of Japan's prolonged near-zero interest rate policy, which has kept financing costs low relative to other developed markets where rates have reset higher. A weaker yen versus major currencies has also made Japanese assets comparatively attractive to dollar- and euro-based investors. Logistics and multifamily sectors in Japan have continued to see robust leasing demand and relatively low vacancy, supporting institutional strategies focused on stable income.

For Savills Investment Management, strengthening local leadership in Japan positions the firm to pursue cross-border mandates and co-investment capital into Japanese assets at a time when the broader Savills group is expanding its capital markets capabilities through the Eastdil transaction.