Hamburg-based Union Investment Real Estate has appointed 45-year-old Dr. Karl-Joseph Hermanns-Engel to the management board of the property investment company, with effect from 1 December 2008. Hermanns-Engel, who has a doctorate in law, replaces Michael Montebaur, who is leaving the company on 31 January 2009 to set up his own business.
Hamburg-based Union Investment Real Estate has appointed 45-year-old Dr. Karl-Joseph Hermanns-Engel to the management board of the property investment company, with effect from 1 December 2008. Hermanns-Engel, who has a doctorate in law, replaces Michael Montebaur, who is leaving the company on 31 January 2009 to set up his own business.
Hermanns-Engel will assume responsibility for the international asset management unit and the company's global expansion strategy. He has previously held senior positions at Deutsche Bank and the AXA Group. Most recently, he was CEO of AXA Investment Managers Deutschland, an investment management company for open-ended real estate funds, and global head of management of regulated real estate fund products within the AXA Group.
