M&G Investments’ Lynn Gilbert has been promoted to head of senior real estate debt strategies, following the departure of Paul Dittmann after four years with the European commercial real estate insurance lender.
M&G Investments issued a press statement within the last hour to the effect that Gilbert has succeeded Dittmann but declined to comment in respect of the timing of his departure. However, CoStar News understands Dittmann left M&G around a month ago.
Dittmann is a seasoned European commercial mortgage senior lender with a 20-year career in London which began in the securitisation group at Citigroup/Salomon Brothers.
In 2002, Dittmann moved on to from Goldman Sachs where he established their European commercial property finance department, before joining Barclays Capital as a member of the European Real Estate Financing Group focussing on building Barclays Capital’s continental European platform.
At Barclays Capital, Dittmann worked alongside Lynn Gilbert. He joined M&G in 2011 where he was the head of the senior commercial mortgage finance group with M&G Investments’ real estate financing group.
Over the last four years, Ditmann has helped build M&G’s European real estate senior lending platform, under John Barakat, into one of the largest non-bank lending platforms in the UK and Europe. In the last two years alone, M&G has invested more than £3bn in real estate debt.
Gilbert succeeds Ditmann with immediate effect. She joined M&G Investments’ director of origination in October 2013 from Renshaw Bay, where she was head of whole loan origination. In her new role she will still report to John Barakat, head of real estate finance.
Gilbert, who has nearly 30 years’ experience in real estate finance, previously established and headed real estate finance teams at Société Générale, Morgan Stanley and Barclays Capital.
In a prepared statement, John Barakat said: “Lynn’s tremendous wealth of experience, in originating deals, credit analysis and in the management of portfolios and people is truly outstanding. She is a seasoned professional with experience through multiple European real estate cycles.
“The depth and quality of Lynn’s relationships are a great benefit to our business as we continue to see significant client demand for this strategy. I’d like to thank Paul for his energy and enthusiasm and we wish him well in future endeavours.”