GE Real Estate is on the hunt for a new UK managing director, after moving Alec Burger to its North America debt division.
Burger – who has been appointed vice-president of the division – led the UK business from 2002 to 2006, working on transactions including the sale of MEPC to Hermes and the acquisition of two public companies, Benchmark and Haslemere.
Olivier Piani, president of GE Real Estate Europe, said: “The UK market continues to be a prime target for us and we hope to be able to continue with the double-digit growth we have witnessed there over the past 10 years, along with our European business as a whole.”
In 2005, Burger’s team of 60 lenders closed $800m of transactions out of a total European volume of $2bn.
The company said it was considering a number of internal and external candidates to succeed Burger.
In the US, Burger replaces Dan Smith, who has left the company “to pursue other interests”.
Burger’s remit will be to head the North America debt division, build up its capital markets business, drive new product development and source new acquisitions.
