Savills eye Asia possessions debt advisory business

Savills Japan supposed on Wednesday it plans to widen its company from real estate investment organization and consulting to serving clients reorganize their debt as part of a universal push into providing monetary advisory.

The firm has hire former Citigroup managerial Kelly Hayes to chief an Asia corporate finance group in Tokyo and looks to recruit one or two more bankers with knowledge in managing real estate transactions, Savills Japan chief executive Chris Mancini said at the Reuters Universal Real Estate Summit.

"Today, given the very demanding debt surroundings, having a man who's familiar with how the banks function will help us do our work superior," he said, addition that parent firm Savills has already set up alike units in New York as well as London.

Mancini said the business finance team led by Hayes, who beforehand headed real estate business finance at Citigroup in Tokyo, will give advice Asian clients on debt reorganization, fund-raising and administration non-performing loans.

The corporate finance division will also help market property-related liability and equity.

Mancini said real estate investment transactions in Japan could raise sharply in coming years as 95 percent of profitable property was held by business, family offices and rich individuals, unlike in numerous developed countries where property funds were the leading players.