At his own request, Arnold de Haan will leave the companyâs management as of February, 28 2005, in order to devote himself to new international challenges. In future, the fund manÂagement company will be headed by Dr. Detlev Dietz and Dr. Frank PÃ¶rschke, both of whom have long years of experience in the real estate area.
With effect from April 1, Dr. Achim Kassow, who is responsible within Commerzbank´s management board for retail banking, will also take charge of the bankâs asset-management activities. Up to now, this area has been entrusted to Klaus Patig, who will now concentrate entirely on developing the bankâs international corporate banking.
The ever greater significance of private investors for asset management â" through fund products and individual portfolio management â" makes it sensible to have a single board member take charge of the two business lines. For this reason, Achim Kassow has also been responsible for the open-ended property funds of the Commerz Grundbesitz group, Wiesbaden, since last November.
Commerzbankâs chairman Klaus-Peter MÃ¼ller regretted Mr. de Haanâs departure and thanked him for his great commitment: âArnold de Haan has played a major role in the development of the Commerz Grundbesitz group into one of Germanyâs leading open-ended property funds in reÂcent years. He was quick to invest in foreign properties, thereby making the flagship hausInvest europa into the largest and one of the most successful funds in Germany. In the past few months, Mr. de Haan has been one of the advocates of greater transparency in property funds. He deserves my gratitude and respect for his unique achievements.â