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Major finance and real estate co-operations have re-organised their management structure by appointing a new head of real estate finance. Phil Hooper has recently taken on this responsibility as the NatWest and Royal Bank of Scotland front runner. Hooper plans to oversee the £26 billion loan book across the UK, Ireland and Western Europe. He also anticipates introducing a new strategy to inject breathing space for further investment into an increasingly crowded market.
Fraser Williams, leading Chartered Surveyor and Director at Morgan Pryce, says; “This is an important aspect of real estate and finance. Due to Brexit and an uncertain market, it is important to implement a strong management structure, for example someone like Phil Hooper.”
Previously head of UK Housing, Hooper is no stranger to real estate finance. He has three decades of banking experience under his belt, including 12 years in property – all with RBS and NatWest.
Like all major banks, NatWest’s real estate business now employs fewer people than the heady pre-crisis days of 2007, but with a team of 300 real estate specialists in over 20 offices across the UK servicing around 6,000 customers, the bank lends around £7 billion every year. As Williams states; “This is not inactivity; a leaner more experienced team will lead to further transactions”.
As part of the bank’s ‘Bank of Brands’ strategy, it will go by the names of its predominant customer-facing brands in their home markets – NatWest in England and Wales, Ulster Bank in Northern Ireland and the Republic, and the Royal Bank of Scotland.
Williams explains; “This is a positive outcome, and should be set as a precedent for other UK and international banks who transact in England.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.