FRANKFURT--(BUSINESS WIRE)--Situs strengthens its Frankfurt branch this month with Andreas Stüttgen. Mr. Stüttgen will be responsible as Vice President for Asset Management and Servicing of mortgage backed Non-Performing Loan portfolios, as well as, CMBS loans. Prior experience included stints at Hudson Advisors and SGK, a subsidiary of Nord / LB, and Crédit Agricole Corporate and Investment Bank as Director Distressed Assets, where for several years he was in charge of the banks NPL-Activities in Germany and Austria.
Situs is a leading international service provider in the field of Primary and Special Servicing as well as NPL workout. Following the acquisition of loan servicing platform of Deutsche Bank by Situs in autumn 2012 and the further steady expansion of business in Germany, the obligation of an experienced NPL specialist was an important step to accelerate the expansion activities. Volker Oehls, head of the Frankfurt office commented: "We are pleased that we can complement our team with Mr. Stüttgen because he has a long-standing expertise in the NPL market and is experienced in the field of the purchase of distressed real estate loans and Servicing." Situs headquartered in Houston (Texas), has seven offices in the U.S., and European offices in London, Copenhagen, Dublin and Frankfurt.