Arcapita hires Lehman exec for Asia real estate unit

SINGAPORE, Oct 20 (Reuters) - Bahrain investment bank Arcapita has hired a former Lehman Brothers’ real estate executive to lead its Asian property team in Singapore, the bank said on Monday.

Blake Olafson joins Arcapita after serving collapsed bank Lehman as its senior vice president for its global real estate group focusing on Southeast Asia. He has over 15 years of experence in the Asian real estate business.

Olafson will focus on building Arcapita’s real estate portfolio in Asia, Japan and Australia, the statement said.

A number of Lehman investment bankers have left the U.S. bank after it filed for bankruptcy last month and the departures have not stopped even after its Asian unit was taken over by Japan's Nomura Holdings 8604.T. (Reporting by Saeed Azhar; Editing by Neil Chatterjee)