MADRID-While Spain has most recently made headlines for its $125 billion bank bailout by the Euro Zone, some US companies are still going against the grain and looking at growth in the country. New York City-based Carlton Group recently hired Javier Beltran as managing director here, as well as Borja Rodriguez-Cueto as a director.
Beltran most recently was managing director of UniCredit’s Real Estate Investment Banking Division. Rodriguez-Cueto was with Ahorro Corp. Both will report to Mark Gollin, managing director and head of European loan sales and valuations for Carlton.
Gollin talked with GlobeSt.com about the recent bailout, and what can be done by Spain to get back on track. He says given the current state of the market, the absolute cost for the banks to rehabilitate is too great to manage alone, and as such, government intervention was ultimately necessary.
“We generally feel the bailout was long overdue and will only serve to help facilitate a more expedited resolution across the Iberian Peninsula,” Gollin says. “The bailout ultimately should work, but that it’s going to be expensive, time consuming and will be a bit more painful than originally anticipated. But the government is doing the best it can given the current environment and is doing a good job managing the crisis while keeping the nation afloat.”
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