Commerz Real chief executive Andreas Muschter has left the firm to join Amsterdam-based hotel and co-working business Student Hotel as its chief financial officer.
Johannes Anschott, member of the executive board at Commerz Real, will become interim chief executive while talks over Muschter’s successor continue.
Anschott has been responsible for asset structuring, financing, treasury, infrastructure and renewable energies, movable leasing and sales on Commerz Real’s board since 2016 and will continue with this.
He has worked for the business since 2000, with his previous roles including country manager for the UK and chairman of the management for key accounts in northern Germany and Scandinavia.
Muschter has been in charge of Commerz Real since January 2013. In the role he was primarily responsible for asset management and acquisitions.
His departure was delayed by the outbreak of Covid-19 and Michael Mandel, the chairman of the supervisory board of Commerz Real and a member of the board of management of Commerzbank, has thanked him for staying on and guiding the business through the lockdown phase.
“Under the management of Andreas Muschter Commerz Real has developed into a leading German and international asset manager for real asset investments,” Mandel added.
“We would like to thank him for the extraordinarily successful collaboration and wish him all the very best for the future.
“At the same time we are pleased to be able to have Johannes Anschott, a highly experienced member of the board of management, at the reins of the company during this period of transition.”
Muschter said: “After many years in a large group of companies I am attracted by the exciting task of developing at international level a relatively young company with an innovative concept.
“I am very proud of and grateful for the formative period at Commerz Real. Together with an amazing team we have accomplished a vast amount. Commerz Real is now a company with strong growth and which ranks among the leading innovators in the industry in terms of digitalisation and sustainability.”
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