Wiesbaden-based bank Aareal Bank has hired Dirk Große Wördemann as a member of its management board with a specific responsibility to help the bank expand its overseas exposure.
Wördemann was most recently co-head of Pacific Star Europe, a private equity real estate business owned by himself, former head of alternative assets at energy group E.On Matthias Sturmer and Pacific Star, the Singapore-based firm.
In September, Wördemann, Sturmer and Pacific Star agreed to wind up the venture after the pair requested to pursue other options. Sturmer joined private equity firm Capital Dynamics a month later as co-global head of real estate before today’s announcement by Aareal of Wördemann’s hire.
At Aareal, Wördemann will be responsible for increasing its exposure to international markets for its structured property financing division. He takes over from Norbert Kickum who left the bank at the end of last month. Wördemann starts the new position tomorrow.
Aareal’s structured property financing division provides advisory services for specialist sectors such as hotels and logistics as well as retail, although it also covers advisory services to real estate funds.
Prior to his time at Pacific Star, Wördemann held roles at organisations including Deutsche Bank, Eisenbahn Immobilien Managementm, Vivico Real Estate and latterly Allianz Real Estate where he was real estate group chief executive.
Hans Reich, chairman of the supervisory board at Aareal Bank said: “With Dirk Große Wördemann, Aareal Bank AG is gaining a highly reputable expert who has long-standing international experience and excellent expertise. Together with him, we will continue to consistently pursue the path of qualitative growth and successful development in the structured property financing segment.”
According to Aareal’s 2009 annual report, the bank managed €39.57 billion in assets and €2.077 billion of equity.