At press time, the never-ending saga of musical executive chairs continued on Wall Street. April was definitely a blow-out month for the Street's commercial real estate crowd, with major moves shaping the future careers of several major figures.
Higher-ups within Credit Suisse First Boston formally curtailed the aggressive lending practices of managing director Andy Stone, handing the reins for the department to Stuart Dauman and Karen Zimmerman. The revamping allows for managing directors Mark Finerman and Bill Adamski to continue in their present roles overseeing the group's real estate lending operation and reporting to Dauman and Zimmerman. Word is the move may be temporary, with Finerman and Adamski assuming the real estate investment banking and securitization mantles in about a year.
Over at Lazard Freres, word on the Street is that long-time managing director Arthur Solomon has departed the firm. No word yet on the specifics behind the move, but check this space in June for an update, or our Website at www.internetreview.com.
Also, Deutsche Bank hired Larry Brown away from WMF Capital to run its TransAtlantic Capital conduit operation. Deutsche just bought out the 50% of the division it did not own from Lou Mirando and Jim Howard.
Sure, you probably saw the Golden Globe Awards, and who didn't see the Oscars? But the stars of the commercial real estate industry had their moment in the spotlight at the second annual, 1999 NREI Leadership Awards held earlier this month in Atlanta. Recipients were voted best in their respective fields in a poll conducted of 8,000 NREI readers earlier this year.
And the winners are:
Top Wall Street Firm
Top CEO Barry Sternlicht, Starwood Hotels & Resorts
Top REIT Simon Property Group
Top Hotel Firm
Top Industrial Firm
Koll Development Co.
Top Multifamily Firm
Lincoln Property Co.
Top Office Firm
Trammell Crow Co.
Top Retail Firm
Simon Property Co.
Top Seniors Housing Firm Marriott Senior Living Services
Top National Brokerage Firm CB Richard Ellis
Top Deal of the Year NationsBank/Bank of America
Be sure to check out our special Awards Supplement, with complete coverage of our awards dinner, coming in the June issue of National Real Estate Investor.