Francois Trausch is replacing Olivier Piani as chief executive at Allianz Real Estate.

Trausch will take up the role in January next year and be based in Paris.

Trausch has been chief executive for Asia-Pacific at GE Capital Real Estate since 2010.

Prior to that, he spent 15 years with GE in Europe.

He has also worked for Tishman Speyer in New York and Berlin and for Goldman Sachs in London. 

Maximilian Zimmerer, board member at Allianz SE, said: “Francois Trausch is a highly regarded leader in the global real estate industry.

“I am very pleased to know Trausch will be the successor of Piani, who built up Allianz Real Estate as a worldwide real estate platform, generating excellent investment results for the Allianz companies over many years.”

Piani, who will retire at the end of this year, joined Allianz in September 2008, having spent six years as chief executive of GE Real Estate.

He did not attend Allianz Real Estate’s annual press briefing at this year’s Expo Real event in Munich.