The real estate arm of German insurance powerhouse, Allianz, has named Francois Trausch as its new chief executive officer (CEO).
Trausch, who has been CEO Asia-Pacific of GE Capital Real Estate since 2010, is replacing the retiring Olivier Piani at end of this year.
“Thanks to its global organization and the extraordinary quality of the team, Allianz Real Estate has been impressively successful in expanding its widely diversified real estate portfolio to €37.4 billion over the last years,” commented Trausch. “It will be my ambition to further develop the well positioned real estate business of Allianz.”
Prior to his time in Asia, Trausch had spent 15 years with GE in Europe in various senior real estate positions. Before joining GE, he worked for Tishman Speyer in New York and Berlin and for Goldman Sachs in London.
The outgoing Piani also joined Allianz from GE Capital Real Estate, although he worked as European chief executive building up the US conglomerate’s pan-European real estate portfolio.
“I am very pleased to know that Francois Trausch will be the successor of Olivier Piani who built up Allianz Real Estate as a worldwide real estate platform, generating excellent investment results for the Allianz companies over many years,” said Maximilian Zimmerer, member of the board of management of Allianz.
The hire of Trausch is the latest in a series of changes that Allianz has made to its leadership team. Back in January the insurer appointed Olivier Téran chief investment officer. Téran joined the German insurance giant back in 2008 starting his Allianz career with responsibility for special projects before he became global head of portfolio management.
Then in July, Allianz hired Barbara Koreniouguine as chief executive of Allianz Real Estate France. Koreniouguine, who joined from BNP Paribas Real Estate, is responsible for Allianz’s real estate activities in France, Belgium and the Netherlands.