APB set for rebranding
The Association of Property Bankers is likely to change its name soon, to reflect the restructuring going on in the UK lending market. A growing proportion of the APB’s 400-strong membership do not work for banks but for other organisations now lending on property, such as insurance companies.
Goodbody joins City surveyor
Andrew Goodbody, president of the APB and previously head of DG Hyp’s London branch, has joined Montagu Evans. Goodbody, who left DG Hyp when it pulled out of international lending is based in the surveying firm’s City office.
DG Hyp funds Lloyds Building
DG Hyp has provided German client Commerzreal with £131m of financing for the Lloyds Building in the City of London. The German bank provided the loan, which was the last in the now fully repaid European Prime Real Estate No 1 CMBS, in a club with Deutsche Postbank.
Deutsche Hypo loses originator
Suzie Cruess-Callaghan is leaving Deutsche Hypo’s London office, where she was a director in the origination team, and will not be immediately replaced. Cruess-Callaghan is moving to Ireland.
Murphy moves up at Helical Bar
Helical Bar’s deputy finance director, Tim Murphy, is stepping up to become finance director when Nigel McNair-Scott becomes non-executive chairman after the AGM next month.