Wachovia Names Leaders to RE Platform

CHARLOTTE, NC-Wachovia Securities has tapped four managing directors to head the various operations in its newly integrated real estate platform. Wachovia began restructuring its real estate operations in April, moving its Real Estate Financial Services group from the General Bank to the Corporate and Investment Bank. The end result is one platform that holds its Real Estate Capital Markets, Real Estate Financial Services and Real Estate Investment Banking groups.

Lawrence Gray and Robert Verrone have been named co-heads of Real Estate Americas. The group covers all domestic of its real estate clients including public and privately owned real estate operators, homebuilders and gaming companies, commercial mortgage backed securities, structured finance, real estate corporate banking, tax credit and agency finance, real estate syndications, and real estate collateralized debt obligation sales and trading.

Gray is a managing director and former head of the firm’s Real Estate Investment Banking group. He joined the company in 1997 to form the Real Estate Investment Banking group, which he has led for the past 10 years. Verrone is a managing director and former head of Real Estate Capital Markets Americas. He joined Wachovia in 1995.