Deutsche Bank has appointed Monte Koch—formerly head for mergers and acquisitions at the firm—to head up its real estate investment banking arm as Devin Murphy steps down.
“We’re extremely pleased that Monte has expanded his leadership responsibilities to now include our industry-leading real estate, lodging and gaming practice,” Thomas Gahan, chief executive officer of Deutsche Bank, said in a statement announcing the appointment. “His proven reputation as a trusted advisor to clients coupled with his tenured history as a leader in senior management of the firm will allow him to marshal the resources needed to build our [real estate investment bank] practice even further.”
Koch is a 20-year veteran of Deutsche Bank who was most recently with the mergers and acquisitions department in the US, though he has reportedly been specializing in property deals as of late.
Murphy, who joined Deutsche in 2004 from Morgan Stanley where he was the co-head for North American real estate investment banking, will stay on as an advisor to the firm before moving on to pursue other interests, according to the bank.
According to Deutsche Bank, the real estate investment banking arm, which covers the property, gambling and hospitality sectors, is the largest coverage group at the bank.
The division has been involved with a number of high-profile private equity real estate transactions including The Blackstone Group’s buyout of Equity Office and Hilton Hotels; the acquisition of gaming giant Harrah’s Entertainment by TPG Capital and Apollo Management; Colony Capital’s takeover of local gambling group Station Casinos; and the $3.6 billion acquisition of resort and casino group Kerzner International.