Wachovia Securities has redeployed its top US real estate capital markets banker to London in the latest sign of the US bank’s push to grow its international business.
Bill Green, who was previously head of real estate capital markets in the US, has switched to become head of real estate for Europe as part of a string of changes sparked by Wachovia’s decision in April to combine its real estate financial services, capital markets and investment banking units into a single group.
Wachovia said in a statement Lawrence Gray, the founding head of its real estate investment banking division, and Robert Verrone, head of real estate capital markets for the Americas, will jointly run the integrated real estate business in that region. Rick Abrams will retain his role at the helm of the Asian real estate business.
Tom Wickwire, who runs Wachovia’s structured products division and oversees real estate as part of that brief, said Green’s move to Europe “reinforces our commitment to growth in this important market and adds additional talent to our European real estate business”.
Green’s move comes barely a month after Wachovia hired Maitland Bruce, a former banker at German property lender Eurohypo, as head of European structured finance, reporting to Green.
Wachovia has been on a European growth push in corporate and investment banking since hiring former Dresdner Kleinwort banker Atul Bajpai as chief executive of its business in the region in June last year.
Source: efinancialnews.com
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Great post on Wachovia
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