In a testament to the booming European CMBS market, the Commercial Mortgage Securities Association-Europe is set to make two new hires to its London-based team.

The expansion coincides with Ronan Fox officially taking over as the new vice chairman of the CMSA-Europe this month. Dottie Cunnigham, chief executive of the CMSA, said that, at the moment, CMSA-Europe is looking to revise its strategic initiatives to fall in line with the Association's recent global strategic revisions. "As part of our revision, we are looking to include more educational programs in more countries outside of the U.K.," she said.

Carol Wilkie, director at CMSA-Europe, said that the organization is now focusing on delivering the next version of its investor reporting package (IRP) in the U.K. She expects that the new version would be launched shortly in the market and that discussions continue on how to tighten up the U.K. IRP package to make it more user-friendly, with the aim of gaining wider market participation. The A/B task force also came into play this year, providing guidelines and solutions to this ever-popular structure to European players.

"We saw tremendous growth in Europe last year and it's proved to players that it's a viable product and it's a market that is here to stay," Cunnigham said. "People feel that our presence has helped build consistency in this market."

(c) 2006 Asset Securitization Report and SourceMedia, Inc. All Rights Reserved.

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