Wachovia Securities announced last week that its real estate capital markets group will start delivering commercial mortgage loan and REPO finance products in both the U.K. and Germany. This expansion into Europe is being headed by Bill Cohane and Peter Riemenschneider, who both report to Bill Green, managing director and head of real estate capital. Cohane, a managing director, is in charge of securitization, structured finance and the REPO/warehouse finance business from the firm's London office. Meanwhile, Riemenschneider, a managing director, will focus on origination throughout Europe, initially from the company's Frankfurt, Germany, and London offices.
HSBC has begun its search to replace Sarwar Ahmad, the bank's departing head of ex-Japan Asia securitization. Financial recruitment firms contacted ASR to say a shortlist of candidates is being compiled, with interviews expected to begin shortly. It is unlikely, however, that a replacement will join until after annual bonuses have been paid.