Credit Suisse First Boston has poached two key members of Deutsche Bank’s real estate team to head up a new European property division. Andrea Carpenter of Europroperty reports.
Ian Marcus and Gary Wilder will join CSFB from the former Bankers Trust real estate investment group, which is now part of Deutsche Bank.
The new division – to be known as the European Real Estate Products Group – will run CSFB’s property investment and banking across Europe, mirroring a similar set up for the firm’s US operation. It will bring together services such as mergers and acquisitions, corporate advisory, equity and debt capital market work and principal investment.
Marcus has only been at Bankers Trust for one year and is understood to have been unsettled by the Deutche Bank takeover.
Mark Seligman, head of UK investment banking at CSFB, said he expected the group to split its activities equally between the UK and the rest of Europe.
“We want to be busy in the secured and non-secured debt markets and the burgeoning securitisation market,” he said.
CFSB is active across Europe and formed part of the consortium which bought a £364m (SKr4.85bn) portfolio of property from the Swedish government. It was also lead manager on the £114m (FFr1.15bn) securitisation of three properties in the La Défense district of Paris.
EGi News 08/07/99
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