DWS to see three members of Exec Board leave

Maria Nikolova

Pierre Cherki, Bob Kendall and Nikolaus von Tippelskirch will all step down from the Executive Board and leave DWS.

Asset management leader DWS has unveiled a major Board reshuffle, as Pierre Cherki, Bob Kendall and Nikolaus von Tippelskirch will all step down from the Executive Board.

According to the Group, after the changes the DWS Executive Board will become leaner and more compact, reflecting DWS’s globally integrated structure.

DWS will shift to a unified global Investment Division, operating with market-leading investment performance and expertise in every region. Its Client Coverage Division will be globally aligned yet regionally suited. DWS will form a new Product Division that will be fully responsible for the entire product life-cycle across the firm. The control units will move to the COO Division, while DWS’s Risk function will move into the CFO Division.

DWS’s new structure will come in to full effect on July 1, 2020, along a raft of changes to leadership composition.

Asoka Woehrmann will continue as CEO and will lead the Executive Division. He will also represent the APAC region on the Executive Board.

Claire Peel will continue as CFO and will lead the CFO Division, incorporating the Risk function. She will also have coordinating responsibilities for DWS’s entire business in EMEA as Regional Head. She will be based in London.

Mark Cullen will continue as COO and will lead the COO Division. Additionally, he will serve as Regional Head of Americas and CEO of DWS Americas. He will be based in the New York office and will also continue to spend time in London.

Stefan Kreuzkamp will remain Global CIO and will head the Investment Division, encompassing our entire investment platform across Active, Passive and Alternatives. He will be based in Frankfurt.

Dirk Goergen will lead DWS’s Client Coverage Division globally, consolidating all distribution teams of the firm into one. He will be based in Frankfurt.

Manfred Bauer will join the Executive Board as head of the Product Division on July 1, 2020. He will be based in Frankfurt.

Pierre Cherki, Bob Kendall and Nikolaus von Tippelskirch will leave DWS.

Pierre Cherki joined Deutsche Bank Group in 1997. Prior to his current role as Co-Head of the Investment Group, he served as Global Head of Alternatives, with responsibility for the Real Estate, Infrastructure, Private Equity, Hedge Funds, Liquid Real Assets and Sustainable Investments businesses.

Bob Kendall joined Deutsche Bank Group in 2009 and has two decades of experience in asset management. Prior to his current role as Co-Head of the Global Coverage Group, he led the retail coverage group in the Americas.

Nikolaus von Tippelskirch joined Deutsche Bank Group in 1999. As CCO, he has had functional responsibility for Legal, Compliance, Anti-Financial Crime, Risk, Governance and Legal Entity Management. He most recently served as Global Head of Incident and Investigation Management. Prior to this, he was Global Head of Legal Entity Management, and previously Group COO for Europe.

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