Property lending businesses within Europe’s insurance sector lag the investment banks and debt funds on compensation, although senior executives could earn as much as €1.2 million last year, at the top end of the scale. Sousou’s data does not include the commercial banking part of the market which, although a large component of the overall market, is fragmented.
Although the data provide a snapshot of compensation across the industry, Sousou’s discussions with market participants provided insight into hiring trends. Serene Hamzawi, London-based managing partner at Sousou, says the firm’s conversations with employers revealed that growth in assets under management across many organisations, particularly in the non-bank sector, is shaping their hiring and personnel strategies.
“As in the wider real assets market, the drive to hire the right people is coming from the pressure to diversify product ranges, either by moving up or down the risk curve,” she explains. “For example, groups which had, until recently, focused on mezzanine debt, are adding senior lending specialists to their teams. We are also seeing equity-focused managers adding debt professionals as they expand into lending. Everyone is trying to offer more to their clients.”
PUBLISHED at, Real Estate Capital – Spring 2020.