Commerz Real has appointed Siegfried Eschen, a director within the parent company Commerzbank, as a member of its management board.
Subject to approval by the Federal Financial Supervisory Authority (BaFin), Eschen will exercise this mandate from 1 June 2021 onwards. The 53-year-old real estate economist is joining the company from Commerzbank, where he has developed and headed the Real Estate competence centre within the Corporate Clients segment since 2015. This now has a portfolio of existing properties worth around €5 bn.
Before Commerzbank, he worked at Hypothekenbank, formerly Eurohypo, ultimately as divisional head of Central Germany/International Key Accounts. In the Berlin regional branch of Commerzbank he was responsible as departmental head for consortium business with key accounts.
‘As a proven expert for commercial real estate financing with a high market standing Siegfried Eschen is a major gain for Commerz Real,’ said Sabine Schmittroth, the chairwoman of the Supervisory Board of Commerz Real. ‘His experience across all market cycles and his extensive network will be a great benefit to the company.’
Following the appointment, Commerz Real’s management board consists of three members, Eschen, Dirk Schuster and the newly appointed CEO Henning Koch.
The addition to the board follows the departure of CEO Gabriele Volz which was announced last week and will be effective from the end of the month.
