Debt specialist Marcus Palmer is joining Royal Bank of Canada as a managing director in its C$1.8bn (£980m) investment and treasury services business.
Palmer is joining the Toronto-headquartered bank in Sept-?ember from Hermes Real Estate, where he resigned as head of real estate debt in the fund management business (19 July, p34).
He will be working in the bank’s London office with real estate and private equity fund clients and aims to “enhance the product offering available through RBC”.
Prior to his year at Hermes setting up a £400m senior debt platform, which is yet to originate a loan, Palmer worked at Chalkhill Partners. He has also worked at RBS and Anglo Irish Bank on loan origination and structuring.
RBC’s primary activity in the UK and Europe is providing corporate facilities or loan-on-loan finance.
It has funded various transactions for US private equity firm Lone Star, including participating in a £2bn loan alongside Citi and Wells Fargo to fund its £5.2bn IBRC loans deal.
RBC is also one of 14 lenders that provided British Land with a £785m revolving credit facility in April.
Bridget.O’Connell@estatesgazette.com
