Erste Group Bank AG (“Erste Group”) has appointed Patrick Zehetmayr to head the banking group’s commercial real estate business, which encompasses non-residential activities at both the stock-listed company’s holding level and at Erste Bank Oesterreich, the group’s Austrian subsidiary. In his new role, Zehetmayr is responsible for the group’s commercial real estate coverage and financing activities, as well as for the real estate leasing business of Erste Group Immorent (EGI), whose supervisory board he chairs.
“The past year was marked by strong growth in the commercial real estate market in Central and Eastern Europe – and Erste Group consolidated its role as the leading financier of that sector by financing its clients’ promising projects. While growth in 2020 is likely to be more restrained as the economy enters a new phase of the cycle, we aim to further strengthen our standing in the commercial real estate sector in the region, especially in Austria,” said Patrick Zehetmayr.
Real estate expert with extensive banking experience
Patrick Zehetmayr has gathered nearly three decades of banking and real estate experience within Erste, most recently as the deputy head of the Group Commercial Real Estate and Leasing division and the head of the Commercial Real Estate Financing department. His experience in the real estate sector also includes being a member of the management board of IMMORENT AG. He has also been a member of EGI’s advisory board and the chairman of the supervisory board of IMMORENT BANK AG.
Zehetmayr’s management skills also draw on the expertise he developed within Erste as the head of relationship management for group large corporates and the head of debt capital markets in the bank’s asset and liability management division. A native of Salzburg, Zehetmayr graduated with a degree in business informatics from the University of Vienna and the Vienna University of Technology (TU Wien) in 1995.