German investment and asset manager Domicil Real Estate has elected Andreas Segal as the chairman of its supervisory board, after previous chairman Alexander Hemmelrath resigned from the position for personal reasons.
In this role, Segal is expected to contribute his experience to shape the strategic orientation of the company and assist Domicil's management. Domicil is led by CEO and main shareholder Khaled Kaissar.
Segal's previous roles include CEO of Gateway Real Estate, deputy CEO and chief financial officer (CFO) of Buwog, co-CEO and CFO of GSW Immobilien, and CFO of Deutsche Wohnen.
Kaissar said: 'In recent years we have developed into one of the leading providers in Germany of real estate for investors.
'We have an attractive deal pipeline and have been able to acquire a number of institutional investors in the past year.
'Andreas Segal’s experience and extensive network in the real estate and financial sectors will help us to prepare our company for the next growth phases.'
Added Segal: 'The business model of Domicil has been very successful for many years already. I am convinced the company has the potential for growth, and I look forward to using my experience to help shape this growth.'
Hemmelrath said: 'It was a pleasure for me as a member of the executive body to accompany Domicil along its successful path and I would like to thank all the employees, board members and my supervisory board colleagues for their valuable support during my term in office.
'It is my sincere wish and hope that the company continues on its successful course.'
Segal has more than 20 years’ experience of the European residential real estate market, with many years spent as a board member at some of the biggest real estate companies in Europe.
Among others, as deputy CEO and CFO he managed the ATX-listed housing company Buwog through to its take-over by Vonovia. In addition, as CFO and co-CEO, he oversaw the initial public offering of GSW Immobilien and then its merger with Deutsche Wohnen SE.
Most recently Segal advised Swedish firmHeimstaden on its expansion into the German market. He is also a non-executive board member of the listed Spanish real estate developer Neinor Homes.
