Bärbel Schomberg and Malcolm Morgan have stepped down from the board of managing directors at German fund manager Degi. According to a press release, the pair have decided to step back from their present positions 'for personal reasons'. The news of their resignation comes hard on the heels of massive write-downs in Degi's Global Business Fund.
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
