Raymond Mikulich, co-head of real estate at Lehman Brothers with Mark Walsh, is to leave at the end of the year. Mikulich and Walsh manage one of Wall Street’s best-performing real estate funds, whose investments include the Chrysler building and 1 Times Square. It is expected that Walsh will become sole head.
The official explanation for Mikulich’s departure is retirement after 25 years of service. However, there is speculation that he will follow the example of other real estate executives who left various banks to set up their own firms.
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