Headhunters have reported a pick-up in new roles in the real estate lending sector. US bank JPMorgan is the latest lender to start a search for a European head of real estate. The bank has not had a senior figure in property lending since Jon Rickert left last February after 15 years.
Rickert stayed in property, joining former JP Morgan co-chief executive Bill Winters at Renshaw Bay. Morgan Stanley is said to be considering building a team to increase lending to the sector, after backing Blackstone’s acquisition of the Adelphi building in WC2 earlier this year to the tune of £190m.
US banks have gradually returned to property lending in the past year; Bank of America Merrill Lynch made waves in February when it underwrote a €1bn loan for Gagfah against an east German multi-family housing portfolio (see p20).
Pricoa Mortgage Capital is also recruiting as it expands the European mortgage business established last year by Drew Abernethy (see p4).
Standard Life has been hunting for debt specialists, while Henderson is in talks with a potential partner to restart its debt investing plans, after John Feeney was recruited to replace Lynda Shillaw as head of corporate real estate at Lloyds.