Ladder Capital has nabbed CRE industry vet Michael Mazzei from Bank of America, where he served as managing director and global head of the CMBS and Bank Loan Syndications Groups. He’s been appointed president of the company. Meanwhile, current president and co-founder Greta Guggenheim will become chief investment officer.
Mr. Mazzei joined BofA in 2009. No word on when he’ll officially start in his new position—a spokesperson for Ladder Capital declined to comment to The Commercial Observer beyond the information provided in a release about the move.
“My time at BofA Merrill Lynch was a great experience,” Mr. Mazzei said in a prepared statement. “The team was able to reduce virtually all of its legacy CMBS assets and restart the CMBS 2.0 business. I have also been fortunate to have gained great relationships and friendships at BofA Merrill Lynch that will continue into the future.”
A capital markets guru, Mr. Mazzei will work to help Ladder “develop its securitization platform and expanding asset management business,” according to the release.
Prior to BofA, Mr. Mazzei was head of CMBS and Commercial Real Estate Debt Markets at Barclays Capital. In the late 1980s, he was also a founding head of the CMBS practice at Lehman Brothers.