NEW YORK CITY—Ian Weissman, managing director at International Strategy and Investment Group, reportedly is moving to Credit Suisse to lead a newly revived REIT coverage desk. SNL reported Friday that Credit Suisse’s real estate equity research team shut down about two years ago when analyst Andrew Rosivach left the group to head up REIT coverage at Goldman Sachs.
Weissman told SNL that with his move to lead its REIT coverage, Credit Suisse is “getting back into the space in a big way.” Although Weissman could not offer names of specific real estate trusts that the firm will cover, he told SNL that it’s safe to say that he and his new team will cover the major names in the REIT subsectors.
Weissman, who worked in REIT coverage at UBS and Merrill Lynch before joining ISI Group, said he’s on garden leave from ISI Group and will likely launch REIT coverage at Credit Suisse in mid-May. He began as a REIT analyst at ISI before moving over to the firm’s gaming and lodging coverage, which he led as a managing director.
SNL reported that ISI will bring lodging coverage back under the aegis of its REIT team with Richard Hightower continuing to cover hotel REITs. Covering of the lodging sector will be discontinued, Hightower told SNL.