German fund manager KGAL group has appointed two co-CEOs as part of the reorganisation of its real estate, sustainable infrastructure and aviation asset classes.
As of year end, Florian Martin, currently managing director capital, and André Zücker, currently managing director real estate, will take over the company management together as co-CEOs.
At the same time, KGAL is 'dissolving boundaries between its asset classes', according to the firm. Its 'next generation' strategy plans to strengthen networking, leverage synergies and further expand competencies with the new alignment.
The firm said that the move would help it take advantage of the opportunities presented by the market correction, and the new links between real estate and sustainable infrastructure, in the interests of investors.
Gert Waltenbauer, CEO, and Dr Klaus Wolf, CIO, will step down as planned by the end of 2023. They have both been influential leaders at KGAL for more than 30 years and have played a significant role in the group’s rise, with a managed investment volume of more than €16 bn.
'We would like to thank the Board of Directors for their great confidence in the management team and are aware of the responsibility that the new tasks entail,' said Zücker. '
We all agreed that the ‘Next Generation’ project should not be about people and functions alone. Rather, from a position of strength, we wanted to set the course in such a way that KGAL, with its approximately 350 employees, can realise its full potential. The owners’ decision was based on continuity and sustainable growth,' he noted.
Added Martin: 'Our aim is to continue as a high-performance, sustainable and innovative investment manager for our clients. We want to maintain our first-class track record and provide answers to the questions of the future, such as net zero real estate and scaling of hydrogen technologies or e-fuels in aviation.
'I look forward to working and delivering on our goals together with André Zücker and the rest of the management team.'
