If you are interested in this candidate, please contact Simon Blau via email sblau@cerfinancial.co.uk or call on 0207 626 6065.

00345734

TECHNICAL SKILLS:

• Real estate risk Ratings model used by the German banks, Monte Carlo simulation CMBS model.
• MS excel, MS word, MS PowerPoint, MS Frontpage 2000, MS Access, MS visual basic, Fortran 77, Dreamweaver, Facebook, Twitter, social marketing.

CAREER HISTORY AS AN INVESTMENT BANKER:

OCTOBER 2011 – PRESENT

BANKING

REAL ESTATE STRUCTURED FINANCE - REAL ESTATE GROUP

• Origination, underwriting, syndication, Agency and execution of newly originated commercial mortgages and development loans in the UK, in the US and in continental Europe (France, Scandinavia and Spain).
• Structuring of term sheets, assets and sponsor due diligence, cash flow modeling, running the rating tool, the RAROC tool, critical examination of the valuation, writing the credit application, presenting the credit application in credit committee and to the board members, finalizing legal documentation, evaluating legal opinion, drawdown of the loans and hand over to the loan administration team.
• Negotiation of inter-creditor agreement with the sponsor when a mezz loan is necessary.
• Sourcing syndication banking partners to satisfy requirements of the conditional decision of the board.
• Helping clients to optimize their balance sheet and lower their cost of funds through refinancing of their existing debt.
• Orchestrate the enforcement of the loans, when necessary, in cooperation with external receivers, the lenders, external lawyers and compliance.

FEBRUARY 2005 – JUNE 2011

BANKING

REAL ESTATE STRUCTURED FINANCE - REAL ESTATE GROUP

• Restructuring the existing £4 billion portfolio of UK commercial mortgages and development loans
• Credit analysis, cash flow modeling, IRR forecast, negotiation of discount and execution, optimization of leverage.
• Renegotiation of margins, extension of maturity, reducing of LTV, sourcing of mezz loans provider and / or new equity able to help the borrower to repay some of its debt to cure breaches of LTV and ISCR covenants
• Foreclosing on loans when the borrower who is in technical default is not willing to dilute its existing equity stake to allow setting up a joint venture with other equity investors, property companies or mezz lenders.
• Writing monitoring reports and credit applications
• De-leveraging HSH’s balance sheet through syndication and sale of existing loans to outside lenders and debt investors.
• Responsible for the transfer to Germany of the existing UK commercial loans granted to German core clients of the bank. (data mining, loan documentation, letters to the borrower).
• Optimization and development of structures to increase liquidity for the bank (e.g. Repo of the loans with the Bank of England and the ECB) and reduce RWA requirements (e.g. use of total return swap and guarantee provided by third party entities to reduce RWA)
• Due diligence of a number of portfolios of loans (commercial and residential) totalling at least £4 billion in aggregate.

Prior to the Credit Crunch (July 2007):

• Origination and credit analysis of real estate senior debt, mezzanine debt, equity bridges, and development loans.
• 1.5 billion Euros of UK real estate senior debt was originated in 2005, 2.4 billion Euros was originated in 2006 and 3 billion Euros (i.e. 10% of all UK loans originated in 2007) was originated in 2007 by the entire team.
• Day to day guidance and ad hoc training provided to all newly hired credit analysts who analyse the credit risk of all real estate debt originated by HSH Nordbank (e.g. credit approval process, due diligence, internal rating, RAROC calculation, cash flow modeling, execution, documentation and ongoing surveillance of the portfolio)
• Responsible for securitizing the existing portfolio of UK commercial mortgages.
• Was instrumental in setting up the real estate group strategy regarding property derivatives.
• Drafting of a business plan, P&L forecast, pricing model, and internal approval of trade implementation and on-going risk management.

MARCH 2003 - JANUARY 2005

INDEPENDENT CONSULTANT

SECURITISATION / REAL ESTATE PRINCIPAL FINANCE

• Carried out consultancy work for a French Real Estate Principal Finance Fund and other clients.
• Performed the origination, credit analysis, excel modeling, due diligence and presentation to credit committee of new lending prospects in the UK and in continental Europe (e.g. senior commercial mortgages, mezzanine debt, equity participation in real estate transactions, construction loans, loans to finance purchase of hotels, loans to finance care homes, loans to finance repositioning of empty buildings)
• Undertook the due diligence and detailed underwriting of a portfolio of German Non-Performing Loans that the Fund wanted to purchase.
• Performed the due diligence and detailed underwriting of a Euro 2 billion portfolio of commercial properties in France and Italy that the fund also wanted to purchase. Sourced potential equity investors and providers of mezzanine debt, senior debt and bridging loan.
• Performed the credit analysis, modeling, review of the legal documentation, due diligence and presentation to credit committee of BBB and BB rated CMBS bonds and mezzanine debt instruments purchased by this Fund.
• Analysed the feasibility of securitizing cash flows of an operating company which manages ski resort in Europe.
• Analysed the feasibility of doing an LBO of a French quoted property company by raising finance through the eventual securitization of its rental cash flows.
• Evaluated the return on equity potential for a number of principal finance and LBO transactions in France, UK and Italy.
• Performed the credit analysis, modeling, due diligence and final underwriting of German NPL portfolios that this lender targeted for purchase.
• Undertook the credit analysis, modeling and due diligence of real estate B notes offered for sale by investment banks who provided bridging loan facilities to real estate principal finance funds.
• Did the credit analysis, modeling, review of the legal documentation, due diligence and presentation to credit committee of BBB and BB rated CMBS bonds (e.g. Poland, UK, France, Germany)
• Other consulting projects aimed, on behalf of property developers and real estate principal finance funds, to source potential private investors, institutional property investors and development lenders to invest and / or finance a number of commercial development projects in the UK, Scandinavia, Portugal, France, Russia and the USA. (e.g. casinos, residential developments, hotels, golf courses, offices tower, supermarkets)

APRIL 2001 - FEBRUARY 2003

BANKING

ASSET SECURITISATION & PRINCIPAL FINANCE

• Was heavily involved in all transactions that involved securitisation with a property angle (e.g. CMBS, sales and lease back, sale and debt financing, whole business)
• Executed two European CMBS transactions (Real Value One: 1.0 billion Euro and Bamburgh Finance No. 1 plc: £210 million).
• Main tasks involved data mining, creation of rating agency presentation booklets, organizing site visits and underwriting and servicing due diligence with rating agencies, negotiation and optimization of credit enhancement levels with rating agencies, structuring, organizing the audit of the data by a third party accountant, cash flow modeling, legal documentation commenting, one to one meeting with investors, and answering questions from investors.
• Wrote a credit policy manual for the origination of forfeiting loans to be financed through a CP conduit.
• Was involved in setting up an internal CMBS conduit similar to the ELOC CMBS conduit.
• Was involved in evaluating the feasibility of granting warehousing facilities to potential clients to finance the origination of commercial mortgages, residential mortgages, and consumer loans.
• Regular tasks involved discussion with lawyers, accountants, rating agencies and monolines, preparation and presentation of internal credit papers, evaluation of business plan and proposals, modeling cash flows, performance of full legal and business due diligence for prospects and live deals, and liaison with clients with a view to understand their business requirements.
• Advised property companies in London on how to raise further debt from their existing property portfolio through securitisation, re-mortgage of senior debt, mezzanine debt and equity bridges.
• On behalf of property developers, was involved in attempting to source potential private investors, institutional property investors and development lenders to invest and / or finance a number of commercial development projects in the UK, Portugal, France, Scandinavia, Russia and the USA. (e.g. casinos, residential developments, hotels, golf courses, offices tower, supermarkets)
• Advised a consortium of private investors on how to best finance and structure their purchase of a small German bank.

OCTOBER 1998 - MARCH 2001

FINANCIAL SERVICES

EUROPEAN STRUCTURED FINANCE, SECURITISATION

• Was the primary analyst who rated a number of residential mortgages, commercial mortgages, operating cash flows, credit card, consumer loans, and multi families residential backed securitisations in a number of European jurisdictions (e.g. UK, France, The Netherlands, Germany, Portugal, Italy, Finland)
• Very proficient in excel modeling of transaction’s cash flows and creation of stress scenarios. Used simplified Monte Carlo simulations in rating models. Participated in the creation of the first version of the Fitch CMBS Monte Carlo model.
• Very proficient in incorporating into rating scenarios the in-depth analysis of all legal aspects associated with securitisation structures (offering circular, legal documents,
• accounting & tax opinions, etc…)
• Performed numerous underwritings and servicing due diligence in different European countries.
• Wrote and published numerous rating reports for all rated transactions. Reports can be found on Fitch web site (www.fitchratings.com) (Fennica 4, Ocwen 2, Ocwen 3, RMS6, RFC2, Atlantes No.1 Plc, Haven Fundings plc, Amstel, San Giorgio, K262, Arran, LTR No. 2 Ltd, BMORE N0.2 Ltd, LABN, Chaves Funding No.2 Ltd, LABN2, Arran2, Fennica 5, Amstel 2, Globaldrive, etc…)

JULY 1996 - SEPTEMBER 1998

FINANCIAL SERVICES

STRUCTURED FINANCE, STOCK LENDING

• Was responsible for the withholding tax dividend arbitrage / stock lending activities of the structure finance desk.
• Participated in many marketing trips
• Was responsible for the financial excel modeling and pricing of all tax driven structures analysed and implemented by the desk. Was also responsible for monitoring of live transactions (P&L, risk management, etc.)
• All these tax driven structures aimed at utilizing the UK tax capacity of the Robert Fleming group. (e.g. UK preference shares, Equity swap, Yen bond financing using cross currency swaps, deemed interest payment that are tax deductible in the UK, capital gain postponed for a very long time by using zero coupon bond held in spv that are then sold, etc…)

AUGUST 1994 - JULY 1996

BANKING

CAPITAL MARKETS, GRADUATE TRAINING PROGRAM

Obligatory (3 month minimum) rotational placement in the following capital markets’ desks:

• August 1995 - July 1996. Global Structured Finance
• May 1995 - August 1995. Capital market sale desk (debt, swap, fx, depos)
• February 1995- May 1995. OBS proprietary trading (swap, FRAs, futures trading)
• November 1994 - February 1995. Program trading. (S&P, T-bond & bund futures, spot fx)
• June 1994-August 1994. Eurobond & MTN Syndication

EDUCATION:

1989 - 1993: University

BSc Mechanical & Material Sciences Engineering,

Triple minors in Philosophy, Japanese and management

1994: University

One-year intensive Japanese language program

LANGUAGES:

• French: Native
• English: Fluent
• Japanese: Proficient (intermediate conversation, basic written)
• German: Proficient (intermediate conversation, intermediate written)
• Spanish: Proficient (intermediate conversation, intermediate written)

INTERESTS:

• Traveling (in 85 countries so far), reading, swimming, DIY, horse riding, movies, video games, chess, and strategic board games

References Available Upon Request

If you are interested in this candidate, please contact Simon Blau via email sblau@cerfinancial.co.uk or call on 0207 626 6065.

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