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Stefan Süschetz. Credit: Union Investment Real Estate

Stefan Süschetz succeeds Manfred Stagl on the Management Board of Union Investment Real Estate

Stefan Süschetz has been appointed to the Management Board of Union Investment Real Estate Austria AG with effect from November 1, 2021.

As Chief Risk Officer and Chief Operating Officer, he will be responsible for the strategic and operational management of the real estate fund company, which is based in Vienna. In his position, Süschetz will be responsible for Risk Management and MidOffice as well as the staff functions Legal, Compliance and Money Laundering.

Stefan Süschetz will succeed Manfred Stagl. Stagl will be starting his well-deserved retirement on December 31, 2021, after more than 15 years at Union Investment. “In the many years we have worked together, Manfred Stagl has demonstrated his proven expertise in securities and asset management and he has always helped to successfully manage the Vienna office,” says Dr. Gunter Haueisen, Chairman of the Supervisory Board of Union Investment Real Estate Austria AG.

Stagl joined the management board of Union Investment Austria GmbH in 2006. He has also been a member of the Management Board of Union Investment Real Estate Austria AG since July 1, 2017. “I would like to thank Manfred Stagl very much for this trusting and professional cooperation,” says Haueisen. “I wish him all the very best for his upcoming retirement.”

Süschetz joins from the asset manager of Erste Group

Stefan Süschetz joins Union Investment from the asset manager of Erste Group. Over the past eight years, Süschetz has held various positions there, most recently as Head of Risk Management Real Estate at Erste Asset Management GmbH and Head of Risk Management & Compliance at Erste Immobilien Kapitalanlagegesellschaft. Prior to that, the 41-year-old worked for the consulting firm Ernst & Young, the ERGO Group, and the Allianz Group. Stefan Süschetz is a Certified Real Estate Investment Analyst (CREA®) and also holds a diploma in corporate management.

“We are delighted to have been able to recruit Stefan Süschetz, an experienced manager from the back office sector, with whom we intend to continue our growth path in the coming years,” says Dr. Gunter Haueisen. The Management Board team will therefore continue to consist of three people. Petia Zeiringer is responsible for fund and asset management, while Jenni Wenkel has been in charge of investment management at the real estate fund company since September 1.

Union Investment Real Estate Austria AG (previously  Immo Kapitalanlage AG) has been part of the Union Investment Group since 2015 and manages immofonds 1, one of the largest open-ended real estate funds for private investors in Austria. The fund, which invests in Germany and Austria, had assets of 1.1 billion euros as of the end of June 2021. Since its acquisition by Union Investment, the company has continuously expanded its market share to currently around 11 percent (as of June 30, 2021).