Deutsche Bank has hired John McGrath, formerly of Credit Suisse First Boston, as a director in the real estate debt markets group. McGrath, who will be based in New York, will be a CMBS trader that specializes in GNMA/FHA, FNMA and FHLMC multifamily housing securities. Agency CMBS Trading will be fully integrated with the firm's CMBS trading and structuring activities, Deutsche said in a release.
In the last five years, McGrath was trading Agency CMBS at Credit Suisse First Boston and Donaldson, Lufkin and Jenrette.
Managing Director and Global Head of CMBS Trading and Structuring Justin Kennedy was quoted as saying that Agency CMBS is a new area of focus for Deutsche, serving to complement its CMBS trading and structuring businesses. He added that McGrath’s experience in this sector will be invaluable for clients and will help Deutsche further its real estate debt markets business.