Henrike Waldburg has been appointed head of Union Investment Real Estate's asset management division as of 1 July, taking over from Volker Noack.
Subject to the approval of Germany's competitions authority, BaFin, Waldburg will then join the management board of Union Investment Real Estate.
Michael Bütter, chairman of the management board of Union Investment Real Estate, said: 'Henrike Waldburg has more than 25 years of experience in the real estate industry.
'Her expertise and leadership skills have delivered significant benefits for our investors and our company. She is being appointed to the management board in recognition and appreciation of her impressive achievements.'
Noack, who has headed asset management at the firm for almost a decade, will take over management board responsibility for expert appraisals, fund support, corporate investment management, risk management, and compliance and anti-money laundering. The board will consist of five members for a transitional period.
André Haagmann, chairman of the supervisory board of Union Investment Real Estate, said: 'Volker Noack will actively support the transfer of asset management responsibilities to Henrike Waldburg until the end of June. We are extremely grateful to him for this assistance.
'He will also contribute his invaluable experience across a number of fields going forward, including expert appraisals, thus ensuring a high level of continuity in another core area.'
In her new management board role, Waldburg takes charge of letting and tenancy management for Union Investment’s approximately 500 fund properties, which are currently worth some €47 bn.
This role also includes responsibility for real estate development and project management, plus the decarbonisation process for a sustainable transformation of Union Investment’s real estate portfolio.
Waldburg has headed up the investment management global department since 2021 and has held various management positions within the company since 2006.
She is also currently responsible for the investment management institutional department.
The leadership team of Union Investment Real Estate also includes Michael Bütter , Martin J. Brühl (chief investment officer) and Christoph Holzmann (chief operating officer).
