Cordea Savills, the international property fund manager, has announced three key appointments as part of the major expansion of its Italian investment and operations teams based in Milan.
The three key appointments are:
David Cunnington has been appointed as Managing Director of Cordea Savills SGR and has relocated to Milan from Cordea Savills in London. David is responsible for the management of the Italian regulated entity of Cordea Savills. He has overall responsibility for corporate finance and fund operations across Cordea Savills and has been with company since 2004.
Salvatore Ruoppolo has been appointed Head of Investment, with responsibility for the investment and asset management team in Italy. Previously he worked for Pirelli Real Estate S.p.A. where he was most recently in charge of the business unit, Asset Management Residential Italy. From 2004 to the beginning of 2008 Salvatore was responsible for running Pirelli Real Estate in Central and Eastern Europe in a joint venture with Unicredit Group. Prior to 2004, Salvatore was based in Milan and worked on various asset management and investment projects in the office sector, including the setting up of the Pirelli Real Estate SGR.
Paola Fiorini has been appointed Chief Operating Officer of Cordea Savills SGR, with overall responsibility for the business infrastructure, including overseeing compliance and regulatory reporting, personnel and business operations for the Milan office. Paola joined Cordea Savills in July 2008 after leaving Babcock and Brown SGR S.p.A. where she was CFO. Paola has extensive experience in finance and operations having held a number of finance related roles at Credit Agricole Asset Management SGR.
The appointments consolidate Cordea Savills' position in the Italian market and the continued expansion of the Italian operation will strengthen its investment and operational capabilities. The Cordea Savills' Italian team will soon number 26 people and further senior appointments in the investment and finance areas will be announced in due course.
Gerardo Solaro del Borgo, who was Managing Director of the SGR from 2006 until earlier this year, has moved to a consultancy role focusing on business development and remains Fund Director for the Pan European Property Fund SGR.
John Partridge, Executive Chairman at Cordea Savills, commented, "We regard Italy as an extremely important part of our overall business and these key appointments enhance the team's breadth and depth of experience across finance, investment and operations."
Source: Citigate Dewe Rogerson