Archive

November 3, 2009

Collingwood Group Expands into Asset Management

The Collingwood Group — recently launched by former Ginnie Mae president Joe Murin — is expanding into asset management and has hired industry veteran Jim Russell to head the new group. "Jim brings [us] a unique blend of banking, capital markets and hands-on experience in the commercial real estate and residential housing markets," said Mr. Murin, who co-founded Collingwood along with former FHA commissioner Brian Montgomery. A spokesman for Collingwood said the advisory group is launching the new business "at a time when many in the financial services sector expect major disruptions in commercial real estate to compound the losses in the residential sector." Prior to joining Collingwood, he was a managing director at Prescient, Inc. where he managed real estate assets in the government and private sectors. During his career he also served as president and CEO of DRS Realty Services/Crown NorthCorp.