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Go West: New CIBC Exec Sees Opportunity

LOS ANGELES - Patrick Crandall has been appointed as managing director of CIBC World Markets' Real Estate Finance Group, working out of the Los Angeles office to mine the West Coast for opportunities.

By Don Jergler | Updated on July 16, 2008

LOS ANGELES—Patrick Crandall sees opportunity in the West Coast between the cracks and crevices of the leaking financial markets. Crandall has been appointed as managing director of CIBC World Markets’ Real Estate Finance Group.

Previously, Crandall served as senior vice president and regional manager for the San Francisco office of iStar Financial, which he became part of due to the company’s acquisition of the Commercial Real Estate Division of Fremont Investment & Loan in July 2007. Crandall joined Fremont in 1999 in the firm’s California headquarters as a member of the credit committee. He eventually relocated to New York in 2003 to open and manage the firm’s regional office, where he supervised the origination of over $3 billion in new commercial real estate loans.

Working out of the Los Angeles office of CIBC World Markets, the wholesale and corporate banking arm of the Canadian Imperial Bank Commerce, Crandall will refocus himself on a West Coast and building a stronger foothold on the region for the company, CIBC executives say.

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