Banc of America Securities’ principal and senior real estate analyst Ross Nussbaum left the company after three years to join the investment banking team at Merrill Lynch & Company. A long-time REIT equity analyst, Nussbaum has built an impressive resume since beginning REIT coverage for Paine Webber in 1994. Since then, Nussbaum has covered REITs as an associate at Bear Stearns and as a senior analyst at Citigroup Smith Barney, where he tracked more than 20 REITs in the mall, shopping center, net lease, self-storage and diversified sectors.

At Banc of America, Nussbaum succeeded Lee Schalop as REIT team leader. Also in an October 2006 issue of Institutional Investor, Nussbaum and his team at Banc of America Securities were awarded first place honors among top REIT research teams. Nussbaum was a regular authority for Real Estate Portfolio and an active member of NAREIT and ICSC.

Correction In the “Developments” department of the May/June issue of Portfolio, we neglected to mention that Host Hotels & Resorts (NYSE: HST) was also listed in Fortune magazine’s list of the country’s most admired companies in the real estate industry.