Patrizia appoints co-CEO

Patrizia has appointed Thomas Wels as co-CEO.

Wels will be responsible for the development of Patrizia’s growing and diversified platform business and support the expansion into new business areas and international markets. Previously, he served as vice chairman and senior advisor for UBS Asset Management.

Co-CEO Wolfgang Egger will focus on broadening Patrizia’s global client base, developing its innovation and growth strategy, and accelerating new technologies to lead the industry transformation.

The new management structure is expected to drive more investment opportunities and create further long-term value for Patrizia’s international investor base.

In other news, Klaus Schmitt, management board member and COO, has decided to leave the company to explore new career opportunities.