16th Sep 2015 07:43
LONDON (Alliance News) - German property investment company Phoenix Spree Deutschland Ltd Wednesday said that Jörg Schwagenscheidt has been appointed as chief executive of PMM Partners Germany GmbH, Phoenix's property adviser.
Schwagenscheidt has more than 30 years of industry experience and most recently worked at GSW Immobilien AG, Berlin's largest property firm, where he was co-chief executive until 2014.
"We are delighted that Jörg has joined PMM Partners. He brings a wealth of industry experience which will be a great asset to both PMM and PSD. Jörg's operational skills and industry contacts are highly complementary to PMM's existing team and we are confident that his input will accelerate the growth of the PSD portfolio and increase potential returns to shareholders," PMM Partners Director Mike Hilton said in a statement.
Shares in Phoenix were untraded on Wednesday morning, last quoted at 151.95 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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