The next property trend?
HSBC has appointed John Herbert to the newly created role of global head of real estate. The banking group said Herbert would be overseeing all its real estate activities globally and helping to drive the creation of a coherent, international real estate strategy.
The Financial Times is speculating that this move could be a sign of the next property trend. Herbert is described by the FT as a 25-year veteran of the sector, having been poached from Citigroup in 2005 by Merrill Lynch, and then becoming an adviser to Advanced Capital, an Italian private equity fund of funds, in 2009.
“Now it’s time to spend HSBC’s money,” the paper adds. Watch this space…
