Union Investment's Christoph Schumacher has been appointed to succeed Beat Schwab as head of global real estate at Credit Suisse Asset Management with effect from 1 June, 2017.
He will report to Michel Degen, head of asset management for Switzerland & EMEA.
'I am delighted to have Christoph, a renowned real estate expert, on my management team. Our market leadership in Switzerland, combined with Christoph’s global expertise, provide an ideal basis for our international expansion,' commented Degen.
Schumacher has served as managing director of Union Investment Institutional Property in Germany since March 2011 and is a member of Union Investment’s real estate investment committee.
From 2005 to 2011, he worked for Generali Real Estate in Cologne, Luxembourg and Paris. Prior to that he was a lawyer for Linklaters in Berlin and London. He was previously a personal advisor/office manager to the minister of finance in Berlin.
From 1 June, Credit Suisse Asset Management Real Estate will consist of three business segments: Real Estate Switzerland, headed by Raymond Rüttimann, Real Estate International, headed by Francisca Fariña Fischer, and Real Estate Mandates & Advisory, under the leadership of Daniel Tochtermann, all reporting to Schumacher.
Beat Schwab, who led the global real estate business on an interim basis, will leave Credit Suisse by the middle of 2017 as previously announced.
Credit Suisse's Asset Management Real Estate launched its first real estate fund in 1938 and is a global provider of real estate investments, with CHF 43 bn (€40 bn) of assets under management as of 31 January, 2017.
