Deutsche Bank Japan’s Douglas Smith to leave firm

TOKYO, April 22 (BestGrowthStock) – Douglas Smith, who leads
Deutsche Bank AG’s (DBKGn.DE: ) commercial real estate financing
business in Japan, will leave the bank at the end of the month
for personal reasons, a Tokyo-based spokesman for the bank said
on Thursday.

A successor to Smith will be announced later, the spokesman
added.

Smith’s team is involved in originating CMBS, or
mortgage-backed securities secured by loans on commercial
property.

One of his team’s most recognised transactions was the 90
billion yen ($966.3 million) of CMBS arranged for Morgan
Stanley in 2008 for its purchase of Shinsei Bank’s (8303.T: )
headquarters building.

Japan’s CMBS market was fueled by an increase in deals, and
foreign banks, including Deutsche, Morgan Stanley (MS.N: ) (Read more about the money market today. ) and
Lehman Brothers (LEHMQ.PK: ), were active in originating the
loans.

The market shrank and those banks reduced their operations
after the credit crisis hit.

Issuance of CMBS in Japan fell to about 249 billion yen in
the year ended March 31, 2010, about just a tenth of the peak
hit two years ago, according to Deutsche Securities.

Growth Stocks

($1=93.13 Yen)
(Reporting by Junko Fujita; Editing by Muralikumar
Anantharaman)

Deutsche Bank Japan’s Douglas Smith to leave firm