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Billionaire Safra's Bank Said to Hire Veteran for Property Fund | Tony Seruga
May
09

Billionaire Safra’s Bank Said to Hire Veteran for Property Fund

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The Swiss private bank and asset manager owned by billionaire Joseph Safra has hired Michael Montebaur from Joh. Berenberg Gossler & Co. to help create a real estate fund for wealthy investors, according to two people with knowledge of the matter.

The new fund, run by J. Safra Sarasin Holding Ltd.’s European asset management unit, will buy commercial properties in major international cities including London, the people said, asking not to be identified because the information is private. Montebaur was appointed as an investment director at the unit, they said.

The real estate veteran spent 15 years at Union Investment, leading the German fund manager’s international-property business and sitting on its management board before he left in 2009. He joined Berenberg in 2014 after five years running his own business, according to his LinkedIn profile

Billionaire Safra’s Bank Said to Hire Veteran for Property Fund

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