Macquarie Group announces appointments in Commercial Mortgage Finance and CMBS Trading Effort

• Experienced industry hires continue growth of Macquarie Credit Trading Division
• New hires boost CMBS trading and commercial mortgage finance efforts

Macquarie Group (ASX: MQG; ADR: MQBKY) today announced a number of commercial real estate appointments in its Credit Trading Division. The roles are focused on the origination and securitization of commercial mortgage loans and the trading of commercial mortgage-backed securities (CMBS).

Timothy Gallagher, Managing Director and Head of Commercial Real Estate Markets, said: “These appointments comprise a wide range of highly talented individuals with deep industry knowledge and relationships. Collectively, they bring capabilities that broaden our reach in commercial mortgage finance and CMBS trading.”

• Phil Miller joins as a Managing Director. Mr. Miller brings more than 20 years of experience in the commercial real estate and mortgage industry. Most recently, he was Head CMBS Desk Strategist at Morgan Stanley and was previously an originator at Merrill Lynch. 
• Charles Citro joins as a Managing Director. Mr. Citro has more than 20 years of experience in origination and credit analysis in commercial real estate lending. He was previously a Managing Director at Goldman Sachs and was formerly at Moody’s Investors Services.
• Stephen Schwartz joins as a Senior Vice President. Mr. Schwartz was previously Head of CMBS Trading at RBC Capital Markets and had trading roles at Deutsche Bank and in CMBS securitization at Prudential. He has more than 16 years of experience in trading mortgage-related securities.
• Conor D’Alton joins as an Associate in CMBS trading. Mr. D’Alton was previously in securitized product sales at Barclays and prior to that held origination, underwriting and asset management positions at Anglo Irish Bank in New York. 
• William Sandford joins as a Credit Analyst. Mr. Sandford was previously supporting debt capital markets efforts at Macquarie. 

“There will be a substantial volume of commercial mortgage loans maturing over the next few years. That provides Macquarie with a sound opportunity to establish a CMBS debt platform in the US.  Macquarie’s robust capital base and technical expertise allow us to deliver superior origination and trading capacity as we grow an active securities book and new-issue pipeline,” Mr. Gallagher added.