Situs hires new executive managing director

Situs has hired a new executive managing director of lending risk and advisory services to broaden the focus of the business into new areas including residential.

Tim Keast is joining from Clayton Euro Risk where he was chief executive and president. He will head a new division focused on due diligence and risk advisory for residential, consumer, SME and other structured finance products.

He will be based out of the company’s European headquarters in London and will work with Bruce Nelson, chief operating officer of Situs. Keast will be responsible for the expansion of Situs’ traditional services beyond commercial real estate to include other asset classes such as residential, consumer, SME, and other structured finance debt.

Geographically he will look to expand Situs’s coverage in southern Europe, including Italy, Greece and the Balkans.

Earlier this month Situs appointed a new head of Spain, Fernando Salazar Lacalle to increase its loan servicing and underwriting capabilities in the country.

Nelson said: “This is an integral step in our commitment to deliver value add advisory services to our clients across all asset classes.”

Keast added: “Having known and worked with Situs for a number of years, I am truly pleased to join such an outstanding organisation and am excited to have the opportunity to continue to build a world class advisory business. With our expansion to southern Europe we will be able to meet our client needs throughout Europe.”