The changes are coming about under new chief investment officer Martin Brühl, who was appointed to the position in December 2016, and will be effective from March 1.
Former head of European investment activity Philip La Pierre will now head up the overseas business in the office sector, taking on the international investment in five markets across the Americas and Asia-Pacific.
Martin Schellein, who joined Union Investment in 2009, will take over as head of investment management for Europe, moving on from his previous position as team manager for real estate transactions in the continental European markets, excluding Germany, Austria and Switzerland.
Union Investment RE will also have additional dedicated units for the retail and hospitality sectors. Henrike Waldburg remains in charge of retail investments and Andreas Löcher will continue to be responsible for global hotel investments.
Brühl said: “In 2016, our specialist investment teams handled global acquisitions and sales with a total value of €4.6 billion.”
He added: “We are aware that the bar for investment management has been raised even further since last year. Against this backdrop, we are delighted that all our senior management positions are filled by outstanding individuals who have grown with the company and benefit from comprehensive deal experience combined with an excellent network of contacts in their respective markets.”