Germany's pbb launches investment management division

In connection with this, Dr Pamela Hoerr will join pbb as a chief representative on 17 April 2023.

Following a period of familiarisation with the company and subject to the regulatory approvals, she will take over the division's relevant responsibilities on the management board.

With the expansion into investment management, pbb is moving forward with the diversification of its business model to develop new sources of income.

In March 2022, the bank presented a new strategic plan to achieve strategic growth targets. The bank's strategic focus continues to be on its core business segment, real estate finance. Yet it also indicated the growth potential and profitability of its new business area.

According to the bank, pbb will use its extensive market expertise, its international presence and its significant risk competence to bring to market what it describes as 'attractive real estate investment products for commercial investors'.

The aim is to establish the prerequisites for an open-ended real estate special fund in the first half of 2023. In addition, co-operation with market participants is being looked into. The business area investment management will operate as a separate, independent division.

Hoerr joins from Real IS Munich, where she has been the member of the management board responsible for funds and asset management since 2020.

Prior to that, she was a member of the management board and managing director responsible for the business areas AIFM, and fund management as well as asset management in Germany at Patrizia real estate investment management in Luxembourg.

The chairman of the supervisory board at pbb, Dr Günther Bräunig, said: 'I am extremely pleased that we have been able to win Pamela Hoerr for pbb. She is a proven real estate expert and has gained a great deal of experience over many years in establishing new fields of business. As a result, she is the ideal addition to our management board team.'