People moves: Stobbe to succeed Kutscher at Union Investment Real Estate [updated]
Palace Capital, Cording Real Estate Group, Morgan Stanley Real Estate, Empiric Student Property, London Diocesan Fund, Investcorp, Aberdeen Standard Investments, Landsec, Hodes Weill & Associates, Impact Healthcare REIT, KPMG, Gresham House
Union Investment – Jörn Stobbe has been appointed to succeed Reinhard Kutscher next year as head of the €40bn real estate business. Kutscher who will retire at the end of 2019, has been a member of the management team and the company’s COO since February 2017.
Landsec – Scott Parsons has resigned from his role as managing director of the property firm’s retail portfolio. Parsons has a notice period of 12 months and will remain at Landsec to assist transition. For the time being, the retail portfolio will report to CEO Robert Noel until a replacement is appointed.
Cording Real Estate Group – Felix Jethon has been promoted to head of fund management in Germany. In this newly created position, he will continue to manage the mandate for an office property portfolio of ten assets across Germany. He will also be responsible for a portfolio of a joint venture by Cording and partners from Germany and abroad with a focus on investments in industrial and logistics property as well as the fund management of the company’s forthcoming vehicles in Germany. Jethon has been with Cording since 2014. Among other positions, he was previously an associate at Morgan Stanley Real Estate.
Palace Capital – William Hagger has been appointed senior portfolio and asset manager to support the implementation of the UK property investment firm’s portfolio strategy. Hagger joins Palace Capital from the London Diocesan Fund. Before joining the London Diocesan Fund in September 2013, Hagger spent ten years at CBRE.
Empiric Student Property – The company’s board has appointed Alice Avis as a non-executive director of the company. Avis is currently a non-executive director of the BGF Group, The Edrington Group and Cyden. Alice was previously executive chairman of Lumene Oy from 2012 to 2015 and served as CEO of The Sanctuary Spa Group from 2005 up to its sale to PZ Cussons in 2008 when she remained with the business as its chairman until 2009. Stephen Alston has notified the board of his intention to step down from his position as a non-executive director of the company with effect from 29 March.
Investcorp/Aberdeen Standard Investments – Gerry Grimstone has been appointed the chairman of the Investcorp/Aberdeen Standard Investments joint venture for Gulf Corporation Council countries infrastructure investing. Gerry’s appointment follows his decision to step down from his roles as a non-executive director of Barclays and chairman of its subsidiary Barclays Bank.
Impact Healthcare REIT – Amanda Aldridge has joined the UK healthcare REIT as a non-executive director. Aldridge will join the audit, remuneration and nomination committees and will also assume the position as chairman of the audit committee. Aldridge was an audit and advisory partner in KPMG from 1996 until 2017, when she retired from the partnership, having joined the firm in 1984. She is currently a non-executive director of Headlam Group and chairman of its audit committee.
Hodes Weill & Associates – Christopher Monsif, a principal with the advisory firm, has been appointed to advance the continued growth of the company’s real estate advisory practice, which focuses on M&As, restructurings and recapitalisations, and general strategic advice. Monsif joined Hodes Weill in 2016. Prior to joining Hodes Weill, he Monsif held positions at Five Mile Capital, JP Morgan and Tudor Investment Corporation.
Gresham House Energy Storage Fund – Cathy Pitt has been appointed non-executive director. She is currently a partner at law firm CMS. Prior to joining CMS, Pitt worked in the asset management practice of another law firm for almost 20 years. Since September 2018, she has been a member of the Law Society Company Law Committee. She also sits on the Regulatory Committee of LPeC, the industry association for listed private capital funds.