Coco adds that the company has "traditionally been a vanilla lender and is looking to expand its CMBS business." The firm strategically aligns with key clients and develops the relationship over time.
The firm brought on six executives within the New York office of the North America Debt group, which now totals 12. Coco says he doesn't need headhunters because he keeps his eyes on people within and without the company and waits until the right program is in place for the right people. Coco tells GlobeSt.com exclusively of new additions in the Washington, DC office, which has more than doubled its sales volume. "We're both developing young people into top producers and adding those in senior roles who can hit the ground running."
In addition to bringing on new people, Coco says a rollout of new programs is also part of the strategy. If approved, new staff will be added as well. "We want to steadily grow the business, not spike it."
Coco feels GE's strategy is a bit more cautious than many others in the marketplace. "There is so much capital chasing real estate. People are overlending to do deals. They're pushing to envelope. We need to be more careful than ever and pick our spots."
The New York staff includes Don Hegermiller who was named senior director. In this position, he is responsible for generating and analyzing real estate loan requests for the structured finance and CMBS programs. As director, John Pierandri will generate and analyze real estate loan requests for the structured finance and CMBS programs. Troy White has been promoted to director and is responsible for generating and analyzing real estate loan requests for the structured finance and CMBS programs. Jennifer Robertson, John Kaptinski and Brian Nowakowski have been named associate directors. In their roles, they will assist originators in screening loan submission packages and provide analytical and financial analysis support for CMBS and structured finance loan transactions.
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