Italian real estate fund manager Aedes Immobiliare has appointed Filippo-Maria Carbonari as new CEO of the group, following the departure of Francesco Montescani.

Carbonari has an extensive real estate experience, most recently as CEO of Italy's first real estate investment trust, IGD Siiq, which he led until 2009.

Also in Italy, real estate investor and developer CDS said on Tuesday that it has appointed Alberto Gaudiano as its new chief financial officer (CFO).

Gaudiano, 47, previously worked for Arthur Andersen as auditor, management consultant and statutory auditor, and more recently held the position of finance manager for the Italian arm of US group C&K Systems, which operates in the security market for domestic and industrial applications. Prior to joining CDS, Gaudiano was finance director of the Global Consumer Fabrics division of the UK listed group Fiberweb.

Founded in 1993, CDS is owned by its founders and the Captiva Capital Partners III fund, which acquired a 49.9% stake in 2008.