AFIAA, the investment foundation for 23 Swiss pension funds focused on international commercial real estate, has announced the appointment of Norbert Grimm as CEO with immediate effect.

The appointment follows the resignation of former CEO Hans Brauwers, who will continue to be involved in the company's business in the position of freelance consultant on international real estate matters. Brauwers had worked for AFIAA since 2008.

Grimm will be assisted by the other members of the management committee, namely Christopher Duisberg, managing director US, chief financial officer Reto Schnabel, Axel Schuhmacher, deputy CEO and head of asset management, and by Gabriele Wolfram, head of portfolio management.