Ferdinand von Sydow has resigned his position as the managing director of IVG's Institutional Funds business. Von Sydow's duties have been taken over on a temporary basis by Bernhard Berg, chairman of the division.

IVG Immobilien, the largest listed real estate company in Germany, said that Von Sydow left on 30 June 'to seek new professional challenges'.

Von Sydow (43) joined IVG Institutional Funds as a managing director in 2008.

IVG also announced Irmgard Linker has joined the management of IVG Institutional Funds. She will be responsible for accounting, risk management and controlling.

IVG Immobilien manages assets worth EUR 22 bn, of which just over EUR 4 bn is on the company balance sheet. In combination with the closed-end funds for private investors, IVG manages funds and mandates amounting to a volume of EUR 15.3 bn.