Ulrich Oppermann was named head of advisory, mandates and international distribution at Commerz Real, the real estate arm of Commerzbank, a spokesman said.
The position is new. Mr. Oppermann will develop business with international institutional investors, and in particular in the framework of individual mandates. He reports directly to Johannes Anschott, board member responsible for the firm's institutional business.
"With his extensive expertise and his far-reaching network (Mr.) Oppermann will play a significant role in advancing our business," Mr. Anschott said in a news release.
Mr. Oppermann was head of transaction Austria and Germany at CBRE Global Investors. Details of his replacement could not be learned.
Commerz Real has €32 billion ($36 billion) in assets under management.