DekaBank has appointed Chris Bennett as the new head of the German bank’s branch in London.
Bennet replaces Mark Titcomb, who will step down from his role by mid-September to pursue interests outside the banking industry, the bank said.
“We are very grateful to Mark Titcomb for his exceptional commitment over the last 10 years and are sad to see him leave,” said Anni Hönicke, head of real estate lending at DekaBank. “With the appointment of Chris Bennett, we ensure a seamless transition in the management of our branch.”
Bennet has been with DekaBank since the inception of the UK representative office in 2008. Over the past 10 years, he has focused on originating senior real estate debt in the UK and Ireland.
In April, DekaBank overhauled its UK representative office – creating a new branch amid a drive to increase new lending activity to £800 million (€887.4 million) per year, from the £700 million target in 2017, Hönicke told Real Estate Capital.
Two months later, the bank announced a £204.6 million loan to finance the purchase of the 20 Old Bailey office building in the City of London by South Korean buyer Mirae Asset Global Investment. The deal reflected a circa 60 percent loan-to-value ratio, with a margin below 140 basis points, Real Estate Capital understands.
The past 12 months have been DekaBank’s busiest period in the UK since 2008, as major international institutional investors have maintained their buying activity, the bank said.