Volker Noack has successfully headed up the Asset Management division in Union Investment’s real estate segment for nearly a decade. With effect from 1 July 2023, he will hand over responsibility to Henrike Waldburg. Subject to the approval of German BaFin, Henrike Waldburg will then join the Management Board of Union Investment Real Estate GmbH. Volker Noack will take over Management Board responsibility for expert appraisals, fund support, corporate investment management, risk management, and compliance and anti-money laundering. The board will consist of five members for a transitional period.
“Volker Noack will actively support the transfer of asset management responsibilities to Henrike Waldburg until the end of June. We are extremely grateful to him for this assistance. He will also contribute his invaluable experience across a number of fields going forward, including expert appraisals, thus ensuring a high level of continuity in another core area,” said André Haagmann, Chairman of the Supervisory Board of Union Investment Real Estate GmbH.
“We are very grateful to Volker Noack for his successful work in the Asset Management division over many years. Henrike Waldburg is an experienced and valued colleague and manager who is joining the Management Board from within our own ranks. We look forward to a strong performance from this new Management Board team,” said Michael Bütter, Chairman of the Management Board of Union Investment Real Estate GmbH. “Henrike Waldburg has more than 25 years of experience in the real estate industry. Her expertise and leadership skills have delivered significant benefits for our investors and our company. She is being appointed to the Management Board in recognition and appreciation of her impressive achievements,” said Michael Bütter.
In her new Management Board role, Henrike Waldburg takes charge of letting and tenancy management for Union Investment’s approximately 500 fund properties, which are currently worth some EUR 47 billion. This role also includes responsibility for real estate development and project management, the decarbonisation process for a sustainable transformation of Union Investment’s real estate portfolio. Henrike Waldburg has headed up the Investment Management Global department since 2021 and has held various management positions within the company since 2006. She is also currently responsible for the Investment Management Institutional department.
Henrike Waldburg holds academic degrees from RWTH Aachen, ebs Immobilienakademie, SGMI Institute of Management St. Gallen and ESMT European School of Management and Technology Berlin. She is a Fellow of the Royal Institution of Chartered Surveyors (FRICS), a member of the ECSP Executive Board and a member of the advisory board of IREBS Immobilienakademie. She is also a member of the German Property Federation (ZIA) and the Urban Land Institute (ULI). A native of Dortmund, she has recently engaged with the role and importance of transformation properties in various studies and presentations.
The leadership team of Union Investment Real Estate GmbH also includes Michael Bütter (Chairman of the Management Board), Martin J. Brühl (Chief Investment Officer) and Christoph Holzmann (Chief Operating Officer).
