Changes in the BPT organisation and top management
3 October 2008
As a consequence of the rapid growth in
the BPT organization and assets under management, as well as recent
developments in the financial markets, the Board of Directors of
BPT Asset Management A/S has decided to implement the following
changes in the organisation and top management of the BPT
group.
As of October 1, 2008 CEO and founder
Lars Ohnemus has stepped down as fund manager of BPT Optima. The
change comes as a natural step in the development of the fund.
With a fully invested portfolio and
recent changes in the business environment, the Board of Directors
of BPT Optima has found it prudent to focus on optimizing
management of the existing portfolio, emphasizing effective
administration, risk management and cost control.
In addition to the above, it has been
decided to allocate an exclusive management resource to one of the
largest investments in BPT Optima; the Young City development
project in Gdansk, Poland. In future, a new managing director of
BPTO Gdansk Development A/S will be appointed, leaving
Country Director Tomasz Tromer to focus
entirely on the remaining real estate investments in Poland.
The development in BPT Optima, moving
away from the previous focus on acquisitions and fund raising,
naturally also affects the role of the fund manager. Recognizing
the new challenge combined with a personal wish to focus more on
other areas, Lars Ohnemus has decided to dedicate his future
efforts solely to fund raising for new products and business
development within BPT.
This decision also impacts his role as
fund manager for BPT Arista. All asset management activities, fund
administration and shared group services are assigned to COO Mikael
Hyttel Runegaard Thomsen, who will step in as interim director,
until a new organisational structure can be implemented.
The process of identifying replacement
fund managers in BPT Optima and BPT Arista is underway. The
organisational changes do not affect the remaining BPT funds.
Until the appointments of new fund
managers are in place, the daily management of the two affected
funds will be handled by Mikael Hyttel Runegaard Thomsen and CFO
Lina Malisauskaite.
Any investor relations issues will be
handled by managing director Stig Mølsted-Møller.
A new organisational structure is
expected to be announced within a month.
The ownership of BPT Asset Management A/S remains unchanged.
