pbb establishes new business area and extends Management Board
pbb Deutsche Pfandbriefbank is expanding its business model with the new business area Real Estate Investment Management. In connection with this, Dr Pamela Hoerr will join pbb as a Chief Representative on April 17th, 2023. Following a period of familiarisation with the company and subject to the regulatory approvals, she will take over the relevant responsibilities on the Management Board.
With the expansion into Investment Management, pbb is moving forward with the diversification of its business model and developing new sources of income. In March 2022, the Bank presented an ambitious growth objective and relevant strategic initiatives. The strategic focus continues to be on the core business segment Real Estate Finance. With the new business area, growth potential and profitability should be increased whilst strictly adhering to cost objectives.
pbb will use its extensive market expertise, its international presence and its significant risk competence to bring attractive real estate investment products for commercial investors onto the market. The aim is to establish the prerequisites for an open-ended real estate special fund in the first half of 2023. In addition, co-operation with market participants is being looked into. The business area Investment Management will operate as a separate, independent division.
Pamela Hoerr comes from REAL I.S. AG Munich, where she has been the Member of the Management Board responsible for Funds and Asset Management since 2020. Prior to that, she was a Member of the Management Board and Managing Director responsible for the business areas AIFM, and fund management as well as asset management in Germany at PATRIZIA Real Estate Investment Management in Luxembourg. As a business graduate with a PhD, she started her career at Ernst & Young Real Estate GmbH.
The Chairman of the Supervisory Board at pbb, Dr Günther Bräunig, said: “I am extremely pleased that we have been able to win Pamela Hoerr for pbb. She is a proven real estate expert and has gained a great deal of experience over many years in establishing new fields of business. As a result, she is the ideal addition to our Management Board Team.”
The Chairman of the Management Board at pbb, Andreas Arndt, said: “pbb is successful in the currently challenging market environment. Our risk-adverse, conservative business model has once again proven to be right. At the same time, we are consistently following the implementation of our strategic agenda. With regard to the future perspective, we want to develop the capital-efficient investment management business with income from off-balance sheet business into an important pillar of earnings and look forward to working with Pamela Hoerr in the near future.