Photo courtesy of JLL

As brokerages compete for a share of shrinking demand for life science space, JLL Boston boosted its life science brokerage team with the addition of a top Cushman & Wakefield executive.

Robert Richards joins JLL as a senior managing director. In his new role, Richards’ assignments will include life science, health care and portfolio advisory services, JLL said.

Following an initial career stint in TV broadcasting, Richards entered commercial brokerage at the former Fallon, Hines & O’Connor before co-founding Richards, Barry, Joyce & Partners in 2001 and continuing at its successor Transwestern RBJ. His past clients include Bristol Myers Squibb, Pfizer and Moderna.

At Cushman & Wakefield, Richards led its Cambridge/Urban team and Life Science and Healthcare Practice Groups.

Richards departure from Cushman & Wakefield follows several other recent high-profile departures from the firm including June’s exit of John Barros, the former Boston economic development chief who headed its Boston office since 2021.

After nearly a decade of growing demand that peaked during the pandemic, Greater Boston life science tenants’ leasing requirements have declined sharply in the past year amid a more conservative funding climate.

“Landlords and tenants are continuing to assess and make decisions on innovative assets that provide both lab and office space in a region that is quickly evolving, making the role of experienced commercial real estate leaders ever vital,” JLL New England Brokerage Lead Matt Daniels said in a statement.