City Moves for 3 February: Who is switching jobs in the Square Mile this week?
Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email [email protected] to be featured.
New head of UK business for BNP Paribas REIM
French firm BNP Paribas Real Estate Investment Management (BNP Paribas REIM) has appointed a new UK business head to manage its multi-billion-pound real estate investments.
Benoit de la Boulaye will lead the company’s UK business and real estate investment division which manages £27bn of European commercial real estate.
De la Boulaye said: “The UK is a strategically important market for us where we see vast potential for long-term growth.
“Our focus is now to continue to grow our dedicated service offer in the UK and we have ambitious plans to become one of the most innovative and ESG driven firms.”
The firm sees opportunities for growth in the UK and recently launched a property fund committed to the Paris Agreement’s targets in a push for emission reductions.
Member of BNP Paribas REIM’s executive committee Claus Thomas said: “The UK market in particular offers highly attractive yields compared to the continent. The UK’s new relationship with Europe may present challenges in the near future but long-term it will also offer new opportunities for investors seeking diversification.”
Former HSBC director joins CBRE
Global real estate advisor CBRE has bolstered its debt advisory team with a former HSBC managing director.
Mathew Featherstone, former HSBC managing director and head of real estate for Global Banking, will join the debt and structured finance team as executive director.
Under the leadership of Paul Coates, Featherstone will strengthen CBRE’s debt advisory business with concentration on larger sponsors across all sectors.
Coates said: “Availability of bank debt is one of the biggest questions facing investors in the current climate and the extensive network of lenders that we partner with allows us to help clients successfully navigate the more challenging market landscape.
“Matthew’s deep relationships with both lenders and sponsors will be a great asset as we look to build on the success of 2020.”
Featherstone has overseen the real estate landscape for 13 years and has over 16 years’ experience in banking.
Matthew’s hire is the most recent appointment since the addition of Chris Gow last year, who joined as an executive director to lead debt advisory for CBRE’s operational real estate business.
FSCS appoints interim COO
The Financial Services Compensation Scheme (FSCS) has announced that its chief operating officer (COO) will be leaving the Scheme in April after five years.
Jimmy Barber, appointed as COO and executive director to the FSCS Board in January 2016, will be replaced by the current head of operational support, Sarah Martin.
“It has been a privilege to have helped drive this transformation and now that the Scheme is in a much stronger position, this feels like the right time for me to pursue a new challenge,” Barber said.
To ensure a seamless transition, Martin will assume the role of interim COO from this week onwards.
Under the role, Barber focussed on digital transformation to make the Scheme more agile in customer services.
CEO Caroline Rainbird said: “We are entering the third decade of the Scheme’s existence and the world in which we operate has never looked more different.
“We will build on the great work that has already been done by Jimmy and ensure that customers are aware of the protection we offer and continue to benefit from quick and efficient pay-outs.”
KPMG vice chair to join London First board
KPMG vice chair and partner is set to join the board of business campaign group London First this week.
Richard Iferenta will work alongside other senior business leaders to help ensure the business group has the greatest impact while the city recovers from the pandemic.
“I am delighted to be joining the Board of London First at a critical time for the capital, as it adapts to the twin challenges of changing working patterns and finding its place in a post-pandemic world after Brexit,” Iferenta said.
Iferenta has been with accounting giant KPMG for two decades, where he heads the financial services indirect tax practice. He has also spent the past four years coaching budding black entrepreneurs.
London First chair Paul Drechsler said: “Richard is a passionate champion of social mobility and inclusion, hugely important issues for London First and the success of our capital.
“Richard’s experience will be invaluable for the organisation as we work to ensure London recovers from COVID-19, and remain the best city in the world in which to invest, work, live and enjoy.”
Wedlake Bell welcomes two new partners
City law firm Wedlake Bell have grown their property litigation and finance teams with the addition of two new partners this week.
Jonathan Hibberts and Laurence Rogers, both acknowledged in their fields as leaders by Chambers and the Legal 500, will bolster the firm’s number of partners to 63.
Hibberts, former partner at Fladgate LLP, has advised on multi-million-pound developments and defect claims.
“The property litigation group at Wedlake Bell has an excellent reputation and I am delighted to be working as part of such a talented team. I am eager to help the practice continue to thrive,” Hibberts said.
Rogers brings over 20-years’ experience and joins from McDermott Will & Emery where he specialised in real estate finance, acquisition and leveraged finance.
Managing partner Martin Arnold said he was delighted to welcome the pair and added: “They are outstanding lawyers with a wealth of expertise and experience that will add incredible value to the firm as we continue to grow and consolidate the firm’s market leading position.”