The Supervisory Board of Corestate Capital Holding S.A. has appointed René Parmantier as the new Chairman of the Management Board (CEO) with immediate effect and for a term of 3 years. The 45-year-old has more than 25 years of professional experience in the financial industry. For the past twelve years he has been CEO of Oddo Seydler Bank AG (formerly Close Brothers Seydler Bank AG). During this time, he has advised on more than 200 financing and M&A transactions in the German real estate sector and in particular has acquired an extensive personal network and many years of experience in private debt.
Luxembourg, 30 November 2020 – The Supervisory Board of Corestate Capital Holding S.A. has appointed René Parmantier as the new Chairman of the Management Board (CEO) with immediate effect and for a term of 3 years. The 45-year-old has more than 25 years of professional experience in the financial industry. For the past twelve years he has been CEO of Oddo Seydler Bank AG (formerly Close Brothers Seydler Bank AG). During this time, he has advised on more than 200 financing and M&A transactions in the German real estate sector and in particular has acquired an extensive personal network and many years of experience in private debt.
The previous chairman of the board, Lars Schnidrig, was also appointed Chief Financial Officer with immediate effect and a term of 3 years. Schnidrig already held this position for Corestate in 2017 and 2018. Nils Huebener and Daniel Loehken remain on the Management Board as Chief Investment Officer
and Chief Legal & HR Officer respectively. The originally designated CEO Klaus Schmitt will not take office on 1 January 2021.
With these personnel decisions, the new Supervisory Board confirms the corporate strategy adopted in 2020, particularly with regard to the consistent reduction of net debt and the further development of the investment management focus towards Core/Core+. In addition, René Parmantier will contribute his many years of expertise in private debt and real estate financing and will further strengthen this area.
Friedrich Munsberg, Chairman of the Supervisory Board, says: “With René Parmantier, we have been able to gain an experienced and dynamic new CEO. He will make a decisive contribution to ensuring that the company accelerates its growth course again in the coming years. I am also very happy that we were able to convince Lars Schnidrig to stay. He will return to his former role as Chief Financial Officer resuming responsibility for such crucial issues as the reduction of net financial debt.”
René Parmantier said: “I am very much looking forward to my new role at Corestate. In my professional career, transactions and financing for real estate companies have always played a major role. I can now bring this experience to Corestate. I see considerable growth potential both in the existing product area
of investment management and, above all, in the private debt segment. The market continues very strongly on the transactions side, also valuations getting richer and the mezzanine business to remain strongly and Assets under Management envisaged to grow.”
Parmantier adds: “I am grateful for the confidence placed in me. I am also extremely happy to have Lars Schnidrig joining this new Management Board, returning to his former role as Chief Financial Officer, a position that he has successfully held in the past with focus on deleveraging and shareholder’s
profitability.”
Lars Schnidrig says: “In the crisis year 2020, we have already prepared ourselves very well for the expected upswing after the end of the pandemic. In addition to the further development of our product portfolio, this includes above all the initiation of a program to reduce customer-related balance sheet items and thus release liquidity. I am very confident that the new Management Board team will be able to report significant successes in this area in the short term and that we will also be able to make further progress in profitability and sales growth in the new year on the basis of a more efficient cost structure”.
About CORESTATE Capital
CORESTATE is an investment manager and co-investor with around € 28 billion in assets under management. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability – trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At CORESTATE, all concepts are supported with ESG expertise that is unique to the industry. With some 800 experts, CORESTATE offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. CORESTATE is listed on the Frankfurt Stock Exchange (SDAX) and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 13 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London.
Forward-looking statements
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