GLOBAL - Union Investment, Gothaer Asset Management, Swiss Canton of Wallis (PKWAL), IVG Immobilien AG.

Union Investment - Rüdiger Ginsberg, chairman of the board at Union Investment, will be stepping down at end-June next year. His successor, board member Joachim Reinke, will be named deputy chairman from 1 January 2010, before succeeding Ginsberg later in the year.

Gothaer Asset Management - Herbert Schmitz, chief operating officer (COO) of the Gothaer group, will be retiring at end-February. He will be succeeded by Oliver Schoeller in March 2010, who will also take on the role of chief information officer.

Swiss canton of Wallis pension fund - Helga Koppenburg Emery, occupational pension expert and currently head of the teachers' fund RVKL, has been named president of the new pension fund for the Swiss canton of Wallis (PKWAL) from January 2010. The new scheme is to be created from the VPSW and the RVKL, the two current public pension funds in the canton of Wallis.

The vice-president will be Denis Varrin, teacher and currently representing the members on the VPSW's board. Patrice Vernier, at the moment director of the RVKL, will remain as director of the PKWAL while Daniel Lambiel, director of VPSW, will leave at the end of the year.

IVG Immobilien AG  - Andreas Barth, a member of the management board at IVG Immobilien AG, will step down from his position as of 31 December 2009. The real estate company is pulling out of independent project development - to focus on investment and funds business - so the corresponding management board position held by Barth will cease to exist at the beginning of next year. However Barth and IVG have agreed that he will remain available in an advisory role until the end of 2010.

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