WestLB puts new spin on property

Germany's WestLB is a relative newcomer to the UK retail space. But having spent the past year going down the tried and tested plain vanilla equity route, it is now creating a suite of sophisticated structures linked to innovative underlyings. Shamillia Sivathambu reports

WestLB launched a special purpose vehicle in Jersey last year under the name of the Structured Solutions Group (SSG), which is devoted to structuring and distributing products to UK investors. Since its launch, SSG has issued eight equity-linked structured products, says Thorsten Wegener, WestLB's head of structured derivatives in London. But SSG, whose third-party administration is provided by London-based Keydata, is not yet that well known in the UK.

The lack of a strong brand identity