KBW Inc. is on the hunt for real estate investment bankers. It hired veteran REIT banker Michael Errichetti as managing director to lead an effort to expand its REIT investment banking group, according to The Wall Street Journal.
The investment bank, which specializes in the financial-services business, began building a REIT investment banking unit in 2007. It recently added research analysts and now has five who cover 63 public real estate companies. The unit also includes a REIT trader, a distribution team and a private-equity team, which raises real estate investment funds and direct equity for real estate clients.
In 2008, Errichetti had left JPMorgan, where he worked for 25 years.