How Deutsche grew up fast in real estate

From humble beginnings a decade ago, Deutsche Bank’s commercial real estate business has grown into a powerhouse. Led by Jon Vaccaro, the group is making headlines globally with high-profile deals – from the Blackstone Group’s acquisition of Hilton to the development of Macao Studio City. Rachel Wolcott reports.

Deutsche’s headline deals

Jon Vaccaro, Deutsche Bank

“If you aren’t a global player today I think that it could be really hard for you to service your client in the future”
Jon Vaccaro, Deutsche Bank

It’s difficult to get a grip on the fact that Deutsche Bank only broke into the commercial real estate business 10 years ago, considering the position and influence it has in the market today. But when Jon Vaccaro joined from Citi in 1997 to become Deutsche’s global head of commercial real estate, his mission was very much to build a business, not to lead an established one.

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