Arnold De Haan is stepping down as chief executive officer of Multi Corporation.

De Haan, who previously headed German open ended fund manager CGI, has agreed to serve as a senior advisor to Multi and its majority shareholder the Morgan Stanley Real Estate Fund V International for a certain period.

Hans van Veggel, chairman of the board, will serve as interim chief executive officer until a replacement has been found.

Multi’s board of directors said it wished to ‘publicly express its gratitude to Mr de Haan for his service to thecompany and wishes him well in his future endeavours.’