David Brush, the managing director and head of RREEF Real Estate in Europe is to step down from his position next February.
Brush has worked at RREEF, the real estate arm of Deutsche Bank, for 20 years and in his last position headed the Real Estate Opportunity Fund Group.
He is standing down for personal reasons but will continue to act as a consultant to RREEF and will be a voting member on a number of fund investment committees.
Brush’s departure has also brought a change in the European management structure.
Alistair Dixon, previously co-head of the Real Estate Opportunity Fund, will take over as chief executive officer of Global Real Estate Opportunity Funds. Dixon has been at RREEF since 1989.
Brush will be replaced by Pierre Cherki and Chris Papachristophorou who will become co-chief executive officers of RREEF Europe. Cherki has been with RREEF since 1997 and spearheaded its expansion into Central and Eastern Europe. Papachristophorou will handle activities in Italy, Greece, the Balkans and Turkey.
RREEF said Brush had played ‘a key role in building RREEF’s reputation…and integrating and strengthening its European platform’.