Germany's Patrizia is setting up shop in Switzerland – and hiring an ex-UBS executive as its strategy chief.
The Augsburg-based asset manager is opening an office in Zurich in a bid to win institutional investors, it said in an emailed statement. It is also hiring Aaron Scott, a veteran of UBS' asset arm, as its head of strategy as well as environmental, social, and governance investing. His appointment is effective immediately.
Patrizia is looking to Scott, who will report to Thomas Wels, who was named co-CEO of Patrizia earlier this year, to bake ESG into its three-year strategy. Scott is a former associate of Ulrich Koerner, who led UBS' asset management arm until last year. Wels also spent the last 15 years at UBS.
Patrizia manages 45.5 billion euros ($53 billion) in real estate assets. Founder Wolfgang Egger is its majority shareholder.
