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SOURCE Starwood Capital Group
GREENWICH, Conn., July 16, 2014 /PRNewswire/ -- Starwood Capital Group, the global private real estate investment firm, announced today it has hired Jeffrey F. DiModica, formerly the Head of MBS/ABS/CMBS sales and strategy for the Americas at the Royal Bank of Scotland ("RBS"), as a Managing Director.
In his new role, Mr. DiModica will assist in the exploration of new business opportunities for Starwood Capital, as well as support the growth and expansion of Starwood Property Trust ("STWD") and its affiliated entities.
"We are thrilled to add a veteran executive of Jeff DiModica's caliber and his leadership capabilities to our executive team, and look to tap his extraordinary expertise and vast relationships as we pursue the expansion of our business opportunities," said Barry Sternlicht, Chairman and CEO of Starwood Capital, and Chairman of the Board and CEO of STWD. "Jeff has been a part of STWD since its formation in 2009. His deep understanding of Starwood Property Trust and many of the markets in which we currently participate will allow him to contribute immediately in helping to evaluate, plan and develop business and people strategy for the long term benefit of the REIT."
During his seven years as the Americas Head of MBS/ABS/CMBS sales and strategy at RBS, Mr. DiModica was responsible for distribution of mortgage-backed securities, asset-backed securities and commercial mortgage-backed securities to institutional clients, including banks, hedge funds, insurance companies and money managers, and oversaw a team of 40 professionals. Mr. DiModica previously headed the Boston sales office for RBS from 2001 to 2007. Prior to joining RBS, he sold derivative and MBS products for Merrill Lynch from 1993 to 2001. Mr. DiModica began his career in Merchant and Investment Banking in the Real Estate group at Chemical Bank from 1989 to 1991. Mr. DiModica received his B.S.B.A. with a concentration in Finance in 1989 from Boston University, his M.B.A. from Dartmouth College's Amos Tuck School in 1993, and his Chartered Financial Analyst designation in 1995.
Once Mr. DiModica joins Starwood Capital, he is no longer deemed independent for purposes of the STWD Board of Directors, and therefore is stepping down from the board effective immediately in order for STWD to be in compliance with NYSE board independence rules. Mr. DiModica has been a Director at STWD since its IPO in 2009.
About Starwood Capital Group
Starwood Capital Group is a private, U.S.-based investment firm with a core focus on global real estate. Since the group's inception in 1991, the firm has raised nearly $25 billion of equity capital and acquired over $52 billion in assets. Starwood Capital Group currently has $36 billion of assets under management. Starwood Capital Group maintains offices in Greenwich, Atlanta, San Francisco, Washington, D.C., Los Angeles, Chicago and Miami, and affiliated offices in London, Luxembourg, Paris, Frankfurt and Sao Paulo. Starwood Capital Group has invested in nearly every class of real estate on a global basis, including office, retail, residential, senior housing, golf, hotels, resorts and industrial assets. Starwood Capital Group and its affiliates have successfully executed an investment strategy that includes building enterprises around core real estate portfolios in both the private and public markets. Additional information about Starwood Capital can be found at www.starwoodcapital.com.
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