Deutsche Bank’s Real Estate Finance Head Nacos Said to Depart
March 31, 2011, 1:48 PM EDTBy Sarah Mulholland
March 31 (Bloomberg) -- John Nacos, the global head of commercial real estate at Deutsche Bank AG, has left the lender, according to people with knowledge of the matter.
Nacos helped Deutsche Bank AG partner with UBS AG to arrange $2.2 billion of bonds tied to commercial mortgages last month in the largest deal of its type since 2007. He joined the Frankfurt-based bank in 2001 and was previously head of its commercial real-estate group in Europe. Jonathan Pollack, who’s been with the bank for 12 years, will be assuming responsibility for commercial real estate in the Americas, said the people, who declined to be identified as the moves haven’t been made public.
Amanda Williams, a Deutsche Bank spokeswoman, declined to comment. Nacos couldn’t be reached for comment.
The exit follows the departure of Adam Behlman, head of U.S. real estate finance and commercial mortgage-backed securities at UBS, who left Switzerland’s largest bank last week. The moves are occurring as banks compete for a projected $45 billion of sales this year, according to JPMorgan Chase & Co., after $3.4 billion of offerings in 2009. They’ve arranged about $8 billion in commercial-mortgage backed bonds this year, compared with $11.5 billion in all of 2010, according to data compiled by Bloomberg.
--Editors: Pierre Paulden, Alan Goldstein
To contact the reporter on this story: Sarah Mulholland in New York at smulholland3@bloomberg.net
To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net
