GERMANY - The Warburg-Henderson subsidiary IntReal KAG has named two new board members to cover the areas of risk management and client services.
Klaus Hoffmann, until now chief representative of IntReal, will become part of the management board taking responsibility for risk management and funds administration.
Michael Schneider will cover the areas of client services, portfolio control and corporate communications.
He joins from Deka Immobilien, where he had left his position as head of institutional funds earlier this year.
These appointments will bring the number of board members to three, with Henning Klöppelt, Eitel Coridaß and Detlef Mertens having been part of the management since the company was set up in January 2009.
Klöppelt said: "As IntReal's business is developing better than expected, these new appointments became necessary."
He added this was another step to increase IntReal's independence from its mother company.
As a 'service KAG', IntReal is focusing exclusively on the administration of real estate funds, while the asset management is done by the partner company for which IntReal is setting up a fund under German law.