WPV Advisory & Asset Management (WPV AAM), the subsidiary and advisory firm of asset management companies and alternative investment fund managers working on behalf of the German pension fund for auditors and chartered accountants, WPV, has reshuffled its management team while strengthening the thematic focus within the organisation.

The firm has seen a reorganisation of its management team following the departure of Hans Wilhelm Korfmacher, former chief executive officer of the WPV scheme, earlier last year.

Since December, managing director Sascha Pinger has been named chair, with risk specialist Michael Badura and legal expert Berenike Simon-Schaefer joining as management board members of WPV AAM, the asset management firm said in a LinkedIn post.

Korfmacher resigned as managing director of WPV AAM at the end of December, it added. He retired last year, leaving the WPV pension scheme after 30 years in the hands of the current management board member Silke Wolf and Pinger.

Pinger said the management board expanded and the department that was under Korfmacher’s leadership was split up, resulting in a “stronger thematic focus within the departments”.

He added that management board changes will not have an impact on the strategic direction of the asset management advisory firm.

WPV manages assets worth more than €5bn for approximately 17,000 members and beneficiaries.

The scheme’s asset allocation is split into direct investments and own funds in Luxembourg and Germany. It holds direct real estate investments, usually through real estate companies.

WPV AAM acts as advisor to the asset management firms and alternative investment fund managers the scheme uses. The firm is not currently planning to open up its business to other pension funds, Pinger said.

“WPV AAM is an investment advisor licensed by [the financial supervisory authority] BaFin. As such, it has an impact on WPV’s investments through recommendations or specific advice,” he added.

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Luigi is IPE's Berlin-based DACH correspondent. His coverage includes regulation and the latest pensions and investments trends, and, being a native Italian, he also covers Italy’s pensions market. He has reported from Italy and Germany on international politics and business for European and US publications including USA Today, Bloomberg BNA and for the investigative magazine L’Espresso. He was previously Germany correspondent for Mergermarket covering M&A.View full Profile

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