Listed brokerage firm Bell Financial Group (BFG) has formed a new real estate advisory business made up of former employees from firms including UBS, Babcock & Brown, Deutsche Bank Australia, Macquarie Group and Merrill Lynch.
The division will sit under BFG subsidiary Bell Potter Securities and provide dealer groups, financial advisers, high net worth individuals and other clients with research on securities in the Australian real estate investment trust (A-REIT) sector.
The real estate advisory business will also provide execution services and corporate advice across the listed and unlisted markets, with a particular emphasis on small and mid caps.
Former UBS Australian Real Estate managing director Simon Garing, Merrill Lynch real estate equities team head Phil Montgomerie and Babcock & Brown's real estate global chief financial officer Damien Cronin will lead the division.
"Our aim is to become one of Australia's leading real estate broking and advisory businesses. To achieve this, we've put together a talented team with a depth of experience," said Garing, who will head up research for the division.
The research team will consist of Garing, Janine Yoong and Kerry Angel from UBS, and Anna Chen from Deutsche Bank Australia.
The corporate advisory team will be made up of Cronin and Gerald Full, who are both from Babcock & Brown.
The sales and dealing team will include Montgomerie and former Macquarie employee Cameron McDonald.
"Bell Potter traditionally has had a limited reach in the property sector," BFG executive chairman Colin Bell said.
"The establishment of the real estate team is a fantastic addition to our capabilities and revenue stream and we believe our timing is ideal for our move into this area."
The division will commence operations in September.
