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Union Investment Real Estate GmbH is reinforcing its senior leadership team by bringing on board Michael Bütter (50), a respected real estate manager with many years of industry experience. As part of the company’s dynamic growth strategy, reorganisation of the Management Board is now complete following the departure of Reinhard Kutscher.
Michael Bütter will become Chairman of the Management Board (CEO) of Union Investment Real Estate GmbH and head of the Real Estate segment with effect from 1 October 2020, subject to approval by BaFin. A fully qualified lawyer and business economist, he is taking over the role from Jörn Stobbe, who will remain part of the Management Board and focus on areas with high added value, including value-add transactions, as head of Asset Management. “I am delighted that Jörn Stobbe will continue to contribute his valuable skills in new areas and provide strategically important impetus,” said Jens Wilhelm, Chairman of the Supervisory Board of Union Investment Real Estate GmbH. The five-strong leadership team also includes longstanding Management Board members Volker Noack and Martin J. Brühl and, since 1 July 2020, Christoph Holzmann as new COO.
In his role as head of the Real Estate segment, Michael Bütter will take on overall responsibility for Union Investment’s commercial real estate business, which is now worth some EUR 43.5 billion. He currently sits on the supervisory and advisory boards of various property and digital companies and is a member of the RICS Management Board in Germany. He has previously held senior management positions at companies including Vonovia SE, Scout24 AG, ImmobilienScout GmbH, Corestate Capital S.A. and TLG Immobilien AG.
In the context of the new structure, Volker Noack took over fund management for retail products on 1 July 2020. Volker Noack joined the Management Board of Union Investment Real Estate GmbH in 2010 and became responsible for asset management in 2013.
Chief Investment Officer Martin J. Brühl, a member of the Management Board of Union Investment Real Estate GmbH since 2016, remains in charge of national and international investment management, which is becoming increasingly important in terms of new markets and asset classes.
Source : Union Investment Real Estate