Catella has appointed three directors to its investment management arm.

The Nordic firm said Timo Nurminen was appointed to head the business, with Andreas Kneip and Francois Brisset also working for the new division, which has €3.1bn in assets under management in Germany, Finland, France, Denmark and the Baltics.

Kneip founded Catella’s German property fund operation in 2007, while Brisset co-founded Catella’s French asset management business.

Nurminen, has been with Catella for more than 15 years, was previously acting head of the company’s banking operations.

He will leave his position as chief executive of Catella Bank in September this year.

Brisset, a co-founder of DTZ Asset Management (now DTZ Investors), held the position as managing director for 15 years.

As reported last year, Brisset left DTZ, the firm he co-founded in 1999, to join Catella and set up its French asset management arm to focus on asset and property management for institutional investors in France and abroad. 

AIFMD compliant, the French division uses OPCIs for tax-efficient investment.