Richard Gunthel will head DB Real Estate, a new group that is the combination of all of Deutsche Bank's existing real estate investment operations around the world.

The new group includes Deutsche Asset Management Ltd. (Australia), Deutsche Grundbesitz (Germany), Deutsche Bank Real Estate Private Equity Group (London), Deutsche Property Asset Management Ltd. (London), DB Realty Mezzanine Investment Funds (New York) and Deutsche Bank Fondimmobiliari SGR S.p.a. (Italy).

Gunthel formerly served as the managing director and head of Deutsche Asset Management's real estate functions in its alternative investment division. In that role, he oversaw some 200 real estate investment professionals and approximately $2 billion in assets under management.

In his new role, Gunthel will be in charge of 500 employees in 13 offices around the world and will oversee approximately $21 billion in assets under management.

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