Zoltan Szelyes CFA, CAIA


People Zoltan Szelyes CFA, CAIA


Macro Real Estate AG
Owner and CEO

Zoltan is an international real estate research and investment expert with over 16 years of experience. He is CEO and co-founder of Macro Real Estate AG, an international research-based real estate consultancy firm and is heading the indirect real estate business for Dicoval AG, a Swiss family office. Zoltan Szelyes has started his professional career as a Global Real Estate Analyst in Credit Suisse Research, where he built up the global real estate research from scratch and advised PB and AM clients in real estate between 2004 and 2007. In September 2007 he joined the Swiss National Bank where he spent most of the time as Co-Head of the Asset Management of the SNB Stabilization Fund, a bad bank created during the financial crisis with $38 billion of assets. He left the SNB after the successful wind-down of the bad bank, which delivered a $3.8 billion profit for the SNB and Swiss taxpayers. In February 2014 Zoltan has re-joined Credit Suisse as Head of Global Real Estate Research, where he was responsible for global real estate research for both the direct and indirect platforms of CSAM. In July 2020 Zoltan established Macro Real Estate AG in order to provide independent research and advisory for real estate investment managers and institutional investors seeking international real estate expertise on markets and products. He also moved to Dicoval AG as Head of Real Estate Indirect to build up an international indirect real estate portfolio. In 2021, Zoltan also acted as chair of the INREV Research Committee.





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