In the latest sign of the reshaping of European banking, Deutsche Bank has transferred its real-estate investment banking team to Eurohypo, the property finance specialist created by merging its own mortgage bank subsidiary with those of Dresdner and Commerzbank. The idea is to link the wider bank's lending with higher-margin advisory, structuring and capital markets work.
| Rivlin (left) and Lawson-May: group leaders with |
Leading the group are Neil Lawson-May and Paul Rivlin, both old Deutsche hands. They have long experience in the real-estate market. Before joining Deutsche in 1995, Rivlin helped set up County Natwest's property finance team in the mid-1980s. Lawson-May began at James Capel, joined Morgan Grenfell, and rose to become MD in Deutsche's structured finance division.
At a time when many capital markets professionals are counting themselves lucky still to have their jobs, the London-based team is still growing. News of the move to Eurohypo was followed a few days later by the announcement of three new hires.
Adrian Elwood joins from broker Teather & Greenwood, where he was an equity analyst specializing in quoted property companies.