Jay Leupp is Portfolio Manager/Analyst and leader of Lazard’s Global Real Estate Securities team. He began working in the investment field in 1989. Prior to joining Lazard in 2011, Jay was the President and Chief Executive Officer of Grubb & Ellis Alesco Global Advisors and served as the Senior Portfolio Manager for its mutual funds. Jay founded Alesco in 2006 and had been its President and Chief Executive Officer since its inception. Prior to founding Alesco, Jay served as Managing Director of Real Estate Equity Research at RBC Capital Markets, an investment-banking group of the Royal Bank of Canada, where he oversaw a five-person equity research team. Prior to joining RBC, Jay served as Managing Director of Real Estate Equity Research at Robertson Stephens & Co. Inc., an investment-banking firm where he founded the Real Estate Equity Research group in 1994. From 1991 to 1994, Jay was a vice president of the Staubach Company, specializing in the leasing, acquisition and financing of commercial real estate. From 1989 to 1991, he was a development manager with Trammell Crow Residential, the nation’s largest developer of multifamily housing. Jay holds an MBA from Harvard University and a bachelor’s degree from Santa Clara University. Jay serves on the Board of Directors of G.W. Williams Company and United American Bank of San Mateo, CA. He currently serves on the Board of Directors of Chaminade College Preparatory (Los Angeles) and is a Policy Board Member of the Fisher Center for Real Estate at the University of California, Berkeley. Jay is Past Chair (2007-2009) and Regent Emeritus of the Santa Clara University Board of Regents.