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November 29, 2013updated 04 Apr 2017 2:41pm

Credit Suisse, UBS and Citigroup bankers join forces to start new firm in Germany

Three real estate-investment bankers from Credit Suisse Group UBS and Citigroup have joined forces to start their own business to support the growing demand for property transactions in Germany.

By Verdict Staff

Three real estate-investment bankers from Credit Suisse Group UBS and Citigroup have joined forces to start up their own business to support the growing demand for property transactions in Germany.

The three investment bankers include Citigroup’s Sebastian Fuchs, Credit Suisse’s Christian Schlueter and UBS’s Stefan Bartsch, reported Bloomberg.

The bankers will leave their respective firms to start the new firm, which will be based in Frankfurt.

The new firm will aim to advise property investors on mergers and acquisitions, strategy and equity rising.

The firm will also include Bernd Janssen, who will be head of research and a founding partner.

The move comes due to the increasing demand for real estate advisers in Germany during the past 3 years.

Schlueter has joined Credit Suisse in 2004 from Deutsche Bank AG while Janssen is the former head of equity research at UBS in Germany.

Additionally, Fuchs, Schlueter and Bartschat have suggested on deals in the past 12 months including Deutsche Wohnen AG (DWN)’s acquisition of GSW Immobilien AG (GIB) and Lone Star Funds’s acquisition of TLG Immobilien GmbH.

According to data gathered from Akselrod Consulting and Barkow Consulting GmbH, German property companies have increased the this year from stock and bond sales since 2006 as investors such as Fortress Investment Group and Goldman Sachs Group have sold their stakes and refinance debt.

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