International push has banks hiring real estate specialists to M&A advisory and fund management teams
While homeowners on both sides of the Atlantic are revelling in higher house prices, financial services firms are also benefiting from a healthy real estate sector, and adding staff to deal with demand.
Real estate-related financial services jobs fall into three broad categories: M&A advisory, financing, and real estate fund management. Recruiters report recruitment across each one.
Ghada Sousou, managing director of Armstrong Sousou, a New York City-based real estate executive search specialist, says hiring is inspired by banks’ attempts to fuse M&A and financing real estate practices, and by funds’ need specialists to identify local investment opportunities, particularly in Europe: “There’s been a lot of capital raised, but not many deals done,” she says. “There’s a real need for local real estate specialists.”
Citigroup is the latest bank to attempt a fusion between real estate financing and advisory. Last week it emerged the bank is creating a new global real estate division situated between its global investment banking and global fixed income divisions.
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