Union Investment Real Estate is to restructure its business following the departure of chief operating officer Dr Heiko Beck.
The management of the real estate business is to be concentrated under Dr Reinhard Kutscher, chairman of the management board.
A new department for international real estate investment has also been set up under Martin Brühl who joins the team as of 1 January 2016.
Brühl was previously head of the investment management international department responsible for developing portfolios in Asia, Australia, North America and the UK.
In addition to heading the department Brühl will also be in charge of fund management.
Joining him will be Dr Frank Billand who will retain responsibility for investment management in Europe and for shopping centres.
Volker Noack will remain in charge of asset management and project management for the business.
The institutional side of Union Investment will continue unaffected.
