ING has announced the formation of ING Real Estate Capital Advisors "RECA", a joint initiative between ING Wholesale Banking's corporate finance business and ING Real Estate. RECA will support ING's highly successful global real estate business and will now offer an enhanced range of real estate related banking and advisory services to a growing number of ING's institutional and corporate clients.
The new business will be headed by Christophe Tanghe. Tanghe has over seventeen years experience in real estate investment, development and advisory activities, working for a number of leading institutions in Europe and the US. As an investor, he was a founding partner of Security Capital and Lehman Brothers' real estate investment businesses in Europe and most recently worked with Hines, a global property development company, to further its growth in Europe. Prior to this, Christophe worked as a real estate investment banker for JP Morgan in Brussels, Paris, London and New York.
RECA will offer fully integrated banking, capital markets and advisory services to real estate owners, companies and investors and will initially have operations in Amsterdam, Brussels and London.
Eric Boyer, ING Group Executive Board member responsible for Wholesale Banking, said: "Global real estate markets continue to grow, attracting an increasing number of investors to the sector, bringing significant changes in the real estate public and private markets and generating increasingly sophisticated investment challenges and opportunities."
"ING is the world's leading investment manager of real estate assets and is in a unique position to use the banking experience of its Wholesale Banking business, tied with the sector experience of ING Real Estate, to deliver - under Christophe's leadership - a premier offering of real estate products and services to corporates and investors."
"The establishment of RECA represents a further stage in the ongoing development of our Wholesale Banking business, focusing on providing higher-value services to our target clients and continuing to improve operating performance."
Source: ING Real Estate