Following the departure of several members of its securitization team, including head of securitization Iain Barbour, in October last year, the group announced it would restructure its securitization focus (ASR, 10/24/05). McMullen said the group's refocus has largely been driven by the bank's recent acquisition of German mortgage bank Eurohypo. "We have more of a focus on commercial real estate and will be looking to do more deals with [Eurohypo] going forward," he said. At the end of last year, Commerzbank acquired a 66.2% stake in Eurohypo. The acquisition made Commerzbank the second largest bank in Germany. Eurohypo has an estimated 107 billion ($127 billion) of commercial real estate loans on its books, most of which were originated in Germany.