Strategy & Practice Management
Newmark Expands International Capital Markets Group
Newmark Group, Inc. announces the expansion of its International Capital Markets (ICM) group with the hiring of Frederick Wong as Executive Managing Director, Asia Pacific Capital Markets and Joseph Morris, Executive Managing Director, Middle Eastern Capital Markets.
The new additions reflect Newmark's broader strategy to offer a comprehensive suite of commercial real estate services across key regions throughout the world, as the company continues to invest in recruiting and strategic acquisitions internationally, Newmark Group said in a press release.
Additionally, they bolster the company's dedicated ICM team – a group led by Vice Chairman, Divisional Head of International Capital Markets Alex Foshay – which has executed over USD40 billion in US capital markets transactions with offshore investors in conjunction with local Newmark advisors over the past five years. The group facilitates cross-border capital flows via a broad range of investment structures, working with non-domestic investors on the deployment of capital into real estate and related sectors, from Europe, the Middle East, the Americas and Asia Pacific.
“Newmark's capital markets capabilities have long served as a cornerstone of our platform, both domestically and internationally,” said Newmark Chief Executive Officer Barry Gosin. “As geographical barriers for cross-border investment continue to disappear, we're eager to reinvest in this growing vertical with two key executive hires, both of which fortify our reach in some of the most dynamic global markets.”
Based in Hong Kong, Frederick Wong will manage cross-border investment activity with ICM's clients throughout the Asia Pacific region. He brings over 20 years of experience across real estate investment banking and financial services, including both public and private capital market advisory. Over the course of his career, Wong has completed more than USD20 billion in direct asset and portfolio sales, recapitalizations, initial public offerings, public bond issuances and loan syndications. Prior to joining Newmark, he was a Partner at Brookfield Financial, where he advised on real estate transactions in Greater China and the wider Asia Pacific markets. Wong has also held leadership positions with Macquarie Capital's Greater China real estate investment banking division, UBS's Greater China and Asia banking team, and Credit Suisse's investment banking division.
Joe Morris will take on responsibility for investor groups across the Middle East region. Based in Dubai, Morris brings over 18 years' experience in real estate capital markets across all major real estate sectors in both buy-and-sell-side roles and has worked on over USD10 billion of completed transactions. During his career, Morris has provided coverage of sovereign, institutional and private capital sources across the Middle East, including as a Partner at Knight Frank and Head of MENA Capital Markets, responsible for both regional and international investment on behalf of a Middle East investor base.
“I'm excited to welcome Fred and Joe to the dedicated ICM team after what has been an extremely active year for our platform,” said Foshay. “Our team has done an excellent job navigating the challenges of the pandemic to execute complex transactions, as non-domestic investors seek opportunities to capture today's low hedging costs, favourable financing and attractive levered returns in the U.S. market. With their breadth of experience and expansive regional networks, I'm confident that Fred and Joe will provide immediate value to our growing stable of clients.”
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