Return to UBS tops private banking poll
Catella Property Group
Catella Property Group’s dominance in the Nordic region is illustrated in the results of Euromoney’s private-banking awards this year. Catella came out on top for its services in Sweden and is second overall for the region. The firm is part of Catella Holdings and was formed in 1989 as a property consultancy. The business has since moved away from these roots to focus on corporate finance. “Our aim is to focus on transaction services, high-quality property services,” says Johan Ericsson (pictured), chief executive of Catella Property in Sweden as well as group chief executive of the property business since March. “Consulting, valuation and property management are of less interest. We focus on the M&A side,” he adds.
In its role as a niche real-estate corporate finance player, Catella competes with traditional investment banks. In fact, Nordic investment bank Nordea beats the firm to top place as a real-estate investment provider in the Nordic region. However, Catella is the highest-ranking non-banking entity globally, coming in at number eight. “Our combination of strong local property market knowledge combined with our investment banking knowledge is the reason we have done so well,” says Ericsson.
The firm provides investment opportunities for wealthy individuals wishing to buy property investments or offload them. Last month, the firm finalized a deal in which it advised a group of Middle Eastern buyers. It also advises companies. Catella advised Nordea in 2003 when it decided to sell some of its offices in the Nordic region. The total size of the deal was €1.6 billion. Catella also advised Deutsche Bank when it sold its offices in Paris. In addition to merger and acquisition services, Catella works with companies in Sweden that are looking to list on the stock exchange.
Ericsson says the firm has benefited from increasing interest in the Nordic property market over the past few years. “The Nordic region is number three in terms of volume in cross-border investments in real estate,” says Ericsson. The UK has the highest amount of investment from foreign investors, followed by France. “We’ve seen heavy interest in investing in the Nordic region because it’s politically stable, the legal system is clear, it’s a transparent market and price-wise investors can buy a higher-quality portfolio for the same amount.” In 2003 Catella’s total transaction volume was €5.5 billion, and will exceed €4.5 billion in 2004.
Catella has grown to reach a staff of 260 people located in eight countries. “We’re a market leader in the Nordic region and Brussels and we have a strong position in France,” says Ericsson. Catella also has offices in Germany and the UK.
