Internos Real Investors, the EUR 1.5 bn owner-managed real estate fund management business, has appointed Paul Muno as a managing director of its German operations.

Muno will work alongside the other managing directors, Berthold Becker and Georg zu Stolberg, and be responsible for driving the establishment of fund management capabilities within the German office,

Muno started his career in 1995 as a graduate trainee at Deutsche Bank, where he held several roles in the real estate finance team before being promoted to head of Eurohypo in Milan. Following this, he spent over five years with Oppenheim Immobilien-Kapitalanlagegesellschaft, Wiesbaden before joining Commerz Real Spezialfondsgesellschaft as managing director.