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Press Releases DEBTX EXPANDS EUROPEAN OPERATIONSFirm Opens Office In Spain To Meet Growing Demand For Loan Sales BOSTON, June 25, 2009 DebtX, the largest marketplace for loans, today announced an expansion of operations in Spain with the opening of a Madrid office and the appointment of Spanish banking executive Antonio Anglada. Anglada, who has more than 30 years of experience working in Spain’s banking industry, was most recently the Chief Executive Officer of General Electric’s Mortgage Division, which he launched and built. Prior to GE, Anglada worked for Citibank and AVCO Financial Services. DebtX has been working with financial institutions in Spain for two years, and opened the Madrid office to meet growing demand from Spanish institutions seeking to sell performing and non-performing loans. In addition to Spain, DebtX has European operations in Germany, the United Kingdom and Italy. “Antonio Anglada is a highly respected member of the Spanish banking community with a proven record of building successful businesses,” said DebtX Managing Director Gifford West, head of DebtX’s international operations. “Spanish banks have recognized that in the current crisis, they need an alternative to retaining distressed real estate loans and REO. DebtX enables financial institutions to sell distressed loans, and free up capital and work-out resources. DebtX sees a significant opportunity to generate liquidity for Spanish banks and help those institutions return their balance sheets to health.” DebtX is the largest secondary commercial and residential loan trading platform in Europe and the United States. DebtX works with banks and governments to create liquid markets for commercial and residential loans. Buyers of loans sold at DebtX include institutional investors around the world. About DebtX Media Contact: |
