1st February 2010
Develica Deutschland Management Limited appoints managing director
Develica Deutschland Limited ("DDL"), the AIM listed German property investor, today announces that its fund manager, Develica Deutschland Management Limited (“DDM”), has appointed Lars Luecking as Managing Director with effect from 1 February 2010.
Lars joins DDM from Citi Global Markets and Hypo Real Estate (formerly HypoVereinsbank) where he spent 10 years collectively in senior roles. Prior to those roles he worked for several years in corporate finance with KPMG in Frankfurt.
Grant Tromans, a director of both DDL and DDM, said on behalf of DDM
“DDM welcome the appointment of Lars Luecking as Managing Director and look forward to the benefits his extensive experience in European real estate will bring.
Lars has a wealth of experience in European real estate, especially in asset management, debt restructuring and valuation. He has the ideal skill set to oversee the day-to-day running of DDM and ensure that the fund manager is in a position to take full advantage of the anticipated upturn in the German economy and the consequent revival in the German real estate market."
Derek Butler, Chairman of DDL, said “DDL also welcomes the further strengthening of the DDM team and the additional skills and experience this appointment will bring”.