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AIB opens Paris office Back  
AIB Capital Markets has established a new European Real Estate Finance operation, headquartered in Paris, to build upon its lucrative corporate banking activities in a market that saw €10 billion worth of business last year and offers significant growth opportunities.
The Paris office, which will initially be staffed by six, will target professional and institutional real estate investors, a mix that includes real estate equity funds and certain high net worth individuals.

Ken Murnaghan, managing director of real estate finance with AIB Capital Markets, and head of the new office, told FINANCE that AIB chose Paris because France is the largest commercial real estate market in Europe and also because AIB Capital Markets has been lending selectively into France from Dublin for 10 years.

‘It’s a strong growth area. The European real estate market is an attractive one,’ he said. ‘There is a big commitment behind this and it is expected to be a reasonable profit contributor to the overall business. It’s complimentary to what we have been doing in Europe over the past few years so it is not an enormous new step but certainly, from a real estate financing perspective, we would expect to do a significant amount of incremental business by putting the specialist team in place,’ he added.

At present, AIB Capital Markets has operations in New York, London, Dublin, Frankfurt and now Paris.

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