Property fund manager Cordea Savills has continued its European expansion programme with two appointments at its Munich office.
Thomans Guetle has been appointed head of the company’s German operations, and will join Berith Kuebler, who was recently appointed head of German portfolio management, in the Munich office which opened earlier this year.
Guetle was previously head of business and product development at TMW Pramerica Immobilien, where he set up a regulated German asset management business and developed a number of innovative products.
Prior to this he was director of business development in Europe for Henderson Global Investors. He has also worked at Allianz and Novartis (formerly Sandoz AG).
Kuebler was previously a senior European portfolio manager at Grosvenor Fund Management, based in Paris, and prior to that head of European investment at Allianz Immobilien.
Kuebler’s role also includes broader responsibilities with regard to European transactions and portfolio management.
Cordea Savills plans to launch a core pan-European fund in Germany, followed by funds with differing risk profiles, targeting German institutional investors seeking to increase their exposure to international real estate.
Guetle said: “We will aim to offer an attractive and broad range of property funds specifically created for German investors using tax-efficient structures.”
John Partridge, executive chairman of Cordea Savills, said: “Establishing a German fund management business is in line with building our international presence.
“We believe Germany has significant potential – not only from investing in German property but also raising German capital to invest internationally.”
References: EGi News 27/07/06
