DTZ’s head of research Joe Valente is leaving to join the property arm of German insurance company Allianz.

A well-respected commentator on property markets, the 49-year old Valente will begin work at Allianz Real Estate on 1 July. He will head the portfolio management and strategy division.

'In him we will have a worldwide recognised real estate expert,’ said Karl Ralf Jung, chairman of the board of Munich-based Allianz Real Estate.

Allianz Real Estate was founded at the beginning of 2007 as a real estate investment management company. It is responsible for the strategic control of the real estate investments of Allianz.