The head of Deutsche Bank’s European commercial real estate business, Gad Caspy, is to leave just weeks after its global head, Jonathan Pollack, moved to Blackstone.
Caspy is leaving one of the most active real estate lending banks in Europe. It completed more than €5bn (£3.5bn) of deals last year.
He will be replaced by Roman Kogan, who is currently head of lending and origination for European commercial real estate and managing director. Kogan will be responsible for all the commercial real estate activities of Deutsche Bank in Europe, including special situations and principal business in the region.
The Deutsche European real estate lending team also includes head of distribution and underwriting Bhavesh Patel and director Clive Bull, who is a structured finance specialist.
Caspy had been head of the commercial real estate business at Deutsche since 2011, when he moved from the bank’s New York office where was a senior member of the structured finance team.
He joined Deutsche as a graduate 12 years ago and has also worked in its foreign exchange team.
The departure of Caspy and Pollack comes after a period of change in Deutsche Bank’s senior management.
In June, the co-chief executives of the bank, Anshu Jain and Jürgen Fitschen, stepped down following investor worries about the bank’s performance.
The bank’s global head of structured finance, Elad Shraga, left in May to establish his own fund. Caspy has a long-standing relationship with Shraga, who had been global head of structured finance at the German bank until his departure.
Deutsche Bank declined to comment.
