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It looks like veteran real estate executive John "Jack" Taylor, a managing director in Paine Webber'S commercial-mortgage group, will move to a different group after the firm is combined with Warburg Dillon Read. Where Taylor will wind up is not known, but speculation is he will shift to real estate investment banking or to a European office: Warburg's U.S. commercial-mortgage operation will be headed by managing director Brian Harris. Taylor, who did not return a call seeking comment, has headed commercial-mortgage lending and CMBS trading at Paine. He joined Paine after the investment bank bought Kidder Peabody, where he started in the real estate group in 1985.
Taking a page from its competitors' playbooks, Bear Stearns is trying to boost its underwriting business by sprinkling its conduit collateral around. Until...