Wilson leaves Lloyds
Andrew Wilson, Lloyds’ head of the real estate solutions team working out loans, left the bank to set up a UK and Irish work-out, advisory, real estate financing and investment firm. The solutions team is now headed by Joe Green, reporting to Richard Dakin, MD and head of corporate real estate for the business support unit. Wilson’s departure is part of UK banks’ unwinding of big workout teams, as they offload bad loans. Aubrey Adams, head of property in the global restructuring group at RBS, is to leave in March.
Palmer joins RBC in London
Marcus Palmer, who quit as head of Hermes Real Estate’s debt fund after a year, is joining Royal Bank of Canada in London to work with property and private equity clients. The bank provides loan-on-loan finance for private equity buyers of non-performing loans and has a close relationship with Lone Star via the bank’s Texas office.
LIM recruits Pottorff
Daniel Pottorff has joined LaSalle Investment Management from Strategic Value Partners as a director in its debt investments and special situations team. He will work on LaSalle Real Estate Debt Strategies II and LaSalle Residential Finance I, both in their investment period, as well as special situations opportunities in Europe.
LNR parts with Rich
Derek Rich, European head of investment management at LNR Partners, has left by mutual consent after three years with the firm.