Cordea Savills, the property fund manager, has appointed Thomas Guetle as Head of Germany. His appointment is the latest step in Cordea Savills' European expansion programme. Thomas will be based in Munich, where Cordea Savills opened an office earlier in the year with the appointment of Berith Kuebler as Head of German Portfolio Management.
Thomas was previously Head of Business and Product Development at TMW Pramerica Immobilien GmbH, where he set up a regulated German asset management business and developed a number of innovative products. Prior to this he was Director of Business Development in Europe for Henderson Global Investors. He has also worked at Allianz in a number of positions in asset management and Novartis (formerly Sandoz AG).
Cordea Savills has been very active in Germany over the past year and Berith Kuebler's appointment as Head of German Portfolio Management has enabled Cordea Savills to access substantial deal flow. Berith was previously a senior European portfolio manager at Grosvenor Fund Management, based in Paris, and prior to that Head of European Investment at Allianz Immobilien GmbH. Her role also includes broader responsibilities with regard to European transactions and portfolio management.
Commenting on his appointment, Thomas Guetle said: "I am delighted to be joining Cordea Savills at such an exciting stage in the company's development. German investors are increasingly looking for international property fund managers when investing outside of their local market. We will aim to offer an attractive and broad range of property funds specifically created for German investors using tax-efficient structures."
Cordea Savills has extensive experience of international property investment and has a track record of creating funds in different domiciles to meet the needs of different investor groups across Europe. In Germany, Cordea Savills plans to launch a core pan-European fund initially, followed by funds with differing risk profiles. The company anticipates considerable interest amongst German institutional investors seeking to increase their exposure to international real estate.
John Partridge, Executive Chairman of Cordea Savills, commented: "Thomas has a first class reputation and a proven track record setting up new businesses. Establishing a German fund management business is in line with building our international presence. We believe Germany has significant potential - not only from investing in German property but also raising German capital to invest internationally."
Source: Cordea Savills