Don Belanger, UBS’ head of European real estate capital markets, is heading back to Deutsche Bank as a managing director in its real estate finance division.
Belanger will effectively become number two to Cyril Courbage, who heads up the bank’s commercial real estate business in Europe, with responsibilities across loan origination, structuring as well as future securitisations. Belanger is a replacement for Chris Dunn, who is relocating to the investment bank’s New York office.
Belanger began his 15-year real estate finance career at Fitch Ratings in 1996, followed by almost six years at Deutsche Bank. He then jumped ship to Credit Suisse as co-head of its European CMBS program, Titan, before moving to UBS in September 2007.
The senior hire follows the German investment bank’s restructuring of its global real estate division following the departure of John Nacos in February. Deutsche Bank split Nacos’ role between Courbage, who is responsible for Europe, and Jonathan Pollock who has assumed full responsibility for its US commercial real estate business.
Courbage and Pollock report into New York-based Elad Shraga, global head of structured credit. Shraga has ambitions to make Deutsche Bank “the dominant player in European real estate finance,” according to one banker. “Given its distribution network and balance sheet, relative to other banks, they could achieve that in the next cycle,” the banker added.
Deutsche Bank launched its investor road show for its DECO 2011-E5 CMBS today.
There is a clear incentive behind Deutsche Bank’s enthusiasm in bringing the first European non-repoed securitisation to the market in more than three and a half years. “In the bond markets if you are perceived as the bank who is co-ordinating new issuances you are the go-to-place for investors and thus the go-to-place for those who want to borrow.”
Deutsche Bank declined to comment.