Wachovia Securities is extending its U.S. global rates and CDO platforms into Europe. The bank has made a number of hires both within its London-based global rates group and in Germany to support its growing European commercial real estate initiative there. The move comes at a time when Europe’s first CDO deals backed by commercial real estate have begun to hit the market.
Wachovia last week announced it had hired Hans-Peter Schoech as director and head of structured rates and hybrids. Schoech is based in London and reports to Brian Zwerner, managing director and head of the bank’s global structured rates and correlation credit group. Prior to joining Wachovia, Schoech was a director at Dresdner Kleinwort, where he built the hybrid derivatives business, according to Wachovia. Mo Noubir and Arsene Lahoud also joined the global rates team, based in London. Noubir, formerly a vice president at Dresdner, joined as director and head of European quantitative analysis. Lahoud, formerly a quantitative strategist at Goldman Sachs, joined as senior quantitative analyst.
The bank has also made a number of hires in Germany in order to gain a foothold in the growing European commercial real estate business. Wachovia plucked Thomas Brand and Frank Iggesen to head up its newly formed Berlin and Hamburg offices; both hires came from Aareal Bank, where they headed the Berlin and Hamburg offices, respectively. Felix Hasse will head up the newly formed Munich office; Hasse comes from Roland Berger, a management consulting firm.
Additionally, Wachovia recruited Damian Wosnitzka and Peter Miller from Hypo Real Estate Bank to join the Frankfurt office as deal managers, responsible for managing the German mortgage loan conduit operations, according to Wachovia. Heribert Kinanteder also joined the group as senior underwriter working from the Munich office. Kinanteder came from Allgemeine HypothekenBank Rheinboden. Michael Wetzel was also named head of risk management in Germany. He is based in Frankfurt and was previously at Aareal Bank. All of the new senior hires, except Wetzel, report to Peter Riemenschneider, managing director and co-head of real estate capital markets in Europe. Wetzel reports to Woody Brewer, head of European risk.
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