GE plugs gap in Europe

Following the defection of a senior team to JER, GE Real Estate has redeployed a senior figure in Asia to Central Europe.

GE Real Estate has made Frank Roseen managing director for GE Real Estate Central Europe.

Previously head of asset management for GE Real Estate International based in Tokyo, he will be based in Prague.

The appointment follows the departure of Karim Habra, Christopher Zeuner and Petr Kosar to establish a platform in Central and Eastern Europe for the McLean, Virginia-based JER Partners this summer.

Roseen has been with GE since 2002 when he was appointed as finance manager for Real Estate Nordic. In 2005 he moved to Tokyo, initially as chief financial officer for the Asia Pacific region. In March, he was promoted to the position of head of asset management Asia Pacific.

In his new role, GE said he would serve the whole of Central and Eastern Europe, managing investments in the Czech and Slovak Republics, Poland, Russia, Bulgaria, Romania and Turkey.

Mark Hutchinson, president and chief executive of GE Real Estate International, said: “The appointment of Frank Roseen in this key role for GE Real Estate reflects both his considerable contribution to the company to date as well as further confirmation of the importance that GE Real Estate places on its Central European operations.”

Roseen added: “Even in today’s difficult markets, the Central European region is developing quickly.”

GE has experienced several departures from the European team in recent months, including its head Olivier Piani who left to join Germany’s Allianz. GE is increasingly focusing activities on real estate debt.