Wednesday, real estate services firm CB Richard Ellis Group Inc. (CBG), announced the expansion of its existing U.K.-based investment banking platform into the Americas to assist real estate, lodging and gaming companies with financial services.
The Los Angeles, California-based company also announced the appointment of veteran investment bankers, Glenn Carlin and John Perkins as Senior Managing Directors, to lead Americas investment banking business. While John had served Bank of America Securities previously, Carlin founded J.P. Morgan's lodging and gaming businesses, according to the company.
Eric Tanjeloff, who worked for J.P. Morgan's largest real estate, gaming and lodging clients, will also join as a Managing Director, the company added.
CB Richard Ellis said it expanded the business in order to advise U.S. based clients on their capital structures as well as strategic alternatives, in the face of current challenges in market.
Perkins noted, "Our activities will focus on capital raising, restructuring of balance sheets, advising on corporate acquisitions and dispositions and developing creative solutions to meet today's marketplace challenges."
The investment banking services of CB Richard Ellis complement its capital markets resources and equity and debt placement capabilities. The company completed more than $66 billion of capital markets transactions in 2008.
The company is expected to post its third quarter results on 28 October, 2009, after market's close.
CBG is currently trading at $13.42 up 3.47% or $0.45 on the NYSE.
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