DWS appoints new European real estate boss

DWS has promoted Clemens Schaefer to head of real estate for Europe, including the UK. He will take over from Georg Allendorf on 1 July. Allendorf has led the team since 2014, after joining the company in 2003. Clemens joined DWS Real Estate in 1998 and held several positions with the firm prior to being made CIO and head of portfolio management for European real estate in 2016. He was also the driving force behind the growth of the “spezialfonds” institutional client platform in Germany, growing its AUM from €700m (£615m) to around €8bn. Under Allendorf’s leadership, AUM at DWS