Hamburg Commercial Bank expands business activities to include Aviation Finance
- Further diversification of business model with aviation financing
- Industry expert Richard Moody to lead new division
Hamburg Commercial Bank (HCOB) is continuing its successful diversification strategy by expanding its business model to include a new Aviation Finance division. The new business will complement the Bank’s existing financing activities in the asset classes of real estate, shipping, project finance and corporate business.
Richard Moody, an industry specialist with extensive structured finance and capital markets experience, has been recruited as Managing Director and Global Head Aviation to establish and build the new business. He joins HCOB from Cranfield Aerospace Solutions where he was Chief Investment Officer. Prior to this, Richard was at Deutsche Bank for 15 years where he held a number of senior leadership roles in transportation and infrastructure financing, most recently as Global Head of Transportation Finance and Chair of the Global Transportation Finance Investment Committee. He joined Deutsche Bank from RBC Capital Markets where he was Head of Transportation Infrastructure financing.
“Global aviation finance is an excellent addition to our diversified business strategy and in Richard we have an extremely experienced professional, with strong leadership and deep industry knowledge who will successfully and prudently build this business”, said Christopher Brody, Chief Investment Officer of Hamburg Commercial Bank. “HCOB is a commercial bank focused on niches and broadly positioned in terms of asset classes and regions. We have a long history of providing financing in the commercial real estate, shipping, renewable energy, and infrastructure sectors which gives us a high level of competence and experience in asset-based finance.”
“I very much look forward to my new role at HCOB and building a best-in-class aviation finance business. As the industry continues its post COVID recovery and with global decarbonization also a major investment theme, there is a need to support the broader aviation industry with thoughtful and committed capital”, said Richard Moody.
HCOB will provide financing to support lessors and airlines with structured asset backed solutions and will also finance the broader aviation eco-system including flight training, slots, gates,maintenance facilities, and aviation supply chains. The bank will also selectively invest in capital market products. The new aviation business will be considered within the bank’s overall sustainability approach.
The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.
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