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Patrizia appoints Thomas Wels as Co-CEO
23 April 2020 |

Supervisory Board of Patrizia AG, the global partner for pan-European real estate investment, announced the appointment of Thomas Wels as new Co-CEO of the company.

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Previously Thomas Wels served as Vice Chairman and Senior Advisor for UBS Asset Management. The former Head of Global Real Estate of UBS Asset Management will be responsible for the further development of Patrizia’s growing and diversified platform business and support the expansion into new business areas and international markets. Wels will assume responsibility as Co-CEO effective 1 May 2020.

«I am very excited to join PATRIZIA and look forward to working with the whole management team to further develop the organisation to support PATRIZIA’s ambition to become the leading global partner for real assets», said Thomas Wels.

«With his broad leadership experience, international network and proven entrepreneurial skills, Thomas is ideally qualified to lead the further development of our business operations and help us become more agile and strengthen our local expertise. In addition, Thomas will develop strategies to accelerate the industry consolidation including our move into new real asset classes and business areas and to further strengthen our client centric approach globally», said Wolfgang Egger, CEO of PATRIZIA. «This, in turn, will allow me to further deepen the dialogue with our investors in key markets across Europe, America and Asia, and to focus on strategy development for innovation and cutting-edge technologies with the clear goal to lead the transformation of our industry.»

Management Board member and COO Klaus Schmitt has decided to leave the company to explore new career opportunities. He will support the transition phase and stay on in a consulting role until the end of his term in December 2020.

Today, Patrizia has more than 44 billion euro in assets under management with a global presence on four continents.

Press Released by Patrizia