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Hyderabad to host conference of global mortgage firms

Conference is scheduled to be held in Hyderabad on November 4 and 5

Hyderabad: Come November, Hyderabad will play host to big wigs of global mortgage companies as they come to the city to attend a global conference organised by US-based Commercial Real Estate Financial Council (CRECE) in partnership with Berkadia and Wells Fargo.

“CRECE has always held its conferences in the US. But this is the first time they are going to have it at an offshore office in Hyderabad. Almost 60-80 people, mostly comprising of CEOs, servicing heads of various mortgage firms, rating companies and law firms are expected to attend the conference,” Ned Mody, the country head of Berkadia Services India Pvt. Ltd.

Berkadia Services India is an Indian arm of Berkadia Commerical Mortgage a privately owned firm by Warren Buffett-controlled Berkshire Hathaway Inc and Leucadua National Corporation.

According to Mr Mody, the conference is scheduled to be held in Hyderabad on November 4 and 5, 2014.

Explaining the reason for zeroing in on Hyderabad for the conference, he said the global CEOs want to understand the functioning of an offshore centre, which services up to 70 per cent of Berkadia’s US operations. Berkadia has a 10 per cent share in the US’ $2.56 trillion commerial real estate loan market.

The conference also holds significance as India has allowed real estate investment trusts (REITs) to attract investment in commerical real estate.

Berkadia Services India Private Limited to add 100 more jobs

Berkadia Commer-cial Mortgage is planning to hire 100 more employees for its Hy-derabad back office, said country head Ned Mody.
“We currently have almost 700 employees. In the last 18 months, we have recruited more than 200 people. So for the year ahead we plan to hire at least 100 more workers,” he said.

( Source : dc )
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