Property services firm Catella Property Group is strengthening the group's asset management services with the appointment of Timo Nurminen as CEO of Amplion Asset Management.
Property services firm Catella Property Group is strengthening the group's asset management services with the appointment of Timo Nurminen as CEO of Amplion Asset Management.
Nurminen, who is presently CEO of Catella's Finnish property business, Catella Property, will start his new assignment on 1 January 2009. Michael Schönach will replace Nurminen as new CEO of Catella Property.
'Timo Nurminen has successfully developed Catella's Finnish business into a very strong position on the Finnish property market. Property asset management is a core business area in the group which will be further developed. Timo is the right person to grow this business,' said Johan Ericsson, CEO of Catella Property Group.
Amplion Asset Management offers long term partnerships to non domestic investors who wish to invest in local property markets where they lack their own local resources. Amplion currently provides services in Finland, Russia, the Baltic countries and France with an ambition to expand into other European markets.
'I will focus on expanding the present business as well as entering markets where Catella already is active through the advisory business and into other new European markets. We are specifically looking at starting asset management activities in Sweden which will, together with our existing activities in Finland, give us a strong position on the Nordic markets. Our goal is to increase the amount of assets under management from today's EUR 1bn to EUR 3bn within the next two to three years', said Timo Nurminen.
