Heiko Beck is stepping down as chief operating officer and member of the board at Hamburg-based fund manager Union Investment Real Estate at the end of the year.
Heiko Beck is stepping down as chief operating officer and member of the board at Hamburg-based fund manager Union Investment Real Estate at the end of the year.
He is joining Frankfurt-based securities settlement provider, Deutsche WertpapierService Bank, as chairman.
Beck has been a member of the four-strong management team and chief operating officer at Union Investment Real Estate since 2011.
Over the past four years he has made a major contribution to the development of the real estate segment, Union Investment said, and has been closely involved in key strategic decisions designed to boost the growth of the property fund business.
With assets under active management of around €27 bn in its property funds, Union Investment Real Estate is the leading provider of open-ended retail real estate funds in Germany.
'We would expressly like to thank Heiko Beck for the constructive commitment he has demonstrated throughout his time with the company. We wish him every success in his new position,' said Jens Wilhelm, chairman of the supervisory board and member of the management board of Union Asset Management Holding.
Union Investment said it will not fill the vacant board position. The management team comprising chairman Reinhard Kutscher, Frank Billand and Volker Noack will take over responsibility for the outstanding areas.
Beck is retaining his links with the cooperative DZ banking network of which Union Investment is part. Dwpbank is 50% owned by DZ Bank.
