Allianz Immobilien has hired former Tishman Speyer executive Stefan Brendgen as its new chief investment officer, with effect from 15 January, 2009.
The real estate asset management arm of the German insurance firm said Brendgen would also take over as chairman of the company at the end of March next year.
Karl Ralf Jung is acting as chief executive officer on top of his responsibilities as chairman of Allianz Alternative Assets, which manages private equity, real estate and infrastructure investments on behalf of Allianz.
Allianz Immobilien is a subsidiary of Allianz Alternative Assets, which is building a global property investment platform. The appointment will allow Jung to return to his primary tasks during the second quarter of next year, the statement added.
Before joining Allianz, Brendgen was managing director and manager of Tishman Speyer’s German operations.
The news follows a spate of appointments for Allianz’s real estate operations.
In July, the insurance company hired Olivier Piani to take over as head of real estate at Allianz Alternative Assets, starting from October. Piani was GE Real Estate’s European chief executive. That was followed by the hiring of former DTZ executive Joe Valente as head of the portfolio management, former BlackRock executive Matthew Ryall as group head of fund selection in Europe and Victoria Walbröhl, previously with Union Investment Real Estate, as head of portfolio management.
Allianz is a German insurer which has €20 billion ($31 billion) of real estate under management. It is creating a global property investment platform under Allianz Alternative Assets, combining its regional real estate units under one roof.