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Starwood Capital Group Names Jeffrey DiModica as Managing Director [Manufacturing Close - Up](Manufacturing Close - Up Via Acquire Media NewsEdge) Starwood Capital Group 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. According to a release from the Company, in his new role, 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, 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. 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. DiModica began his career in Merchant and Investment Banking in the Real Estate group at Chemical Bank from 1989 to 1991. Once 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. DiModica has been a Director at STWD since its IPO in 2009. Starwood Capital Group is a private, U.S.-based investment firm with a core focus on global real estate. More information and complete details: www.starwoodcapital.com ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |