GE Capital Real Estate has promoted Morgan Stanley’s European securitisation platform founder Ellen Brunsberg to succeed Ilaria del Beato as UK managing director, underlining the multinational conglomerate’s refocus on senior lending.
Brunsberg, who joined GE Capital in its capital markets division in August 2011, is to spearhead a UK senior debt lending drive with the global multinational firm seeking a gradual migrate its equity investments in favour of senior debt.
Ilaria del Beato has been promoted to CEO, GE Capital UK, overseeing the commercial lending business as well as property leasing.
Separately, GE Capital hired former WestImmo UK origination director John Bigley at the turn of the month to strengthen its senior debt lending drive.
Brunsberg spent 17 years at Morgan Stanley in New York and London from 1991 onwards, helping to establish one of Europe’s earliest commercial mortgage-backed securitisation conduit platforms, European Loan Conduit (ELoC) CMBS.
Lennart Sten, European business leader for GE Capital Real Estate, said: “Ellen’s deep expertise in the commercial real estate arena is a wonderful addition to our team. Her insight and deal structuring ability will be an asset to our clients and the overall business as we expand our debt capabilities in the UK.”
In between Morgan Stanley and GE Capital, Brunsberg helped to found hedge fund Voras Capital Management in 2009.
In the UK, GE Capital Real Estate has UK equity and debt investments currently worth $4bn (£2.62bn), now under Brunsberg’s leadership.