Jörn Stobbe is joining the management board of Union Investment Real Estate as chief operating officer (COO) on 1 February next year.
Stobbe comes from RREEF Management, part of Deutsche Bank's Asset Management division, where he was most recently the member of the management team responsible for acquisitions and disposals, as well as asset management.
A trained lawyer and qualified real estate professional, Stobbe has many years' experience in the property industry, including as a partner at Clifford Chance.
In his role as COO, Stobbe will be in charge of developing the business processes of Union Investment's real estate division. His responsibilities will include continuous improvement of the operational and organisational structure.
His appointment completes the overhaul of the senior management team at the Hamburg-based real estate manager, which is led by CEO Reinhard Kutscher. As chief investment officer, Martin Brühl will be responsible for all real estate acquisition and disposals. In this context, Brühl is taking over the Europe division from Frank Billand, who will retire on 1 March 2017 after being a member of the management team for almost 15 years. Volker Noack will continue to head up the asset management division.
Union Investment Real Estate GmbH is a provider of open-ended real estate funds in Germany. Across a total of five retail funds, it currently has assets under management of €29.3 bn.
