DWS Announces New Organisational Structure

DWS will simplify its global business structure to become more client-centric, flexible, efficient and effective, the Frankfurt-based firm announced today.

The new organisational design is intended to enhance collaboration and remove silos so that DWS is able to fully focus on its responsibilities as a fiduciary asset manager.

DWS said that it will shift to a unified global Investment Division, operating with market-leading investment performance and expertise in every region.

The firm’s Client Coverage Division will be globally aligned yet regionally suited, ensuring a coherent approach to the way we cover its clients; it will also focus on identifying and targeting client segments more effectively.

To become more proficient, agile and innovative in its product offerings, DWS noted it will establish a new Product Division that will be fully responsible for the entire product life-cycle across the firm.

Additionally the firm will make sure its business is efficiently supported with asset management specific controls and transparent financial and risk reporting. The control units will move to the COO Division, while its Risk function will move into the CFO Division.

“This new organisational structure marks another significant milestone for DWS. It allows us to thrive with three strong business lines in Alternatives, Passive and Active; three client segments in wholesale, institutional and insurance; and across all three regions worldwide. Through our globally integrated divisions – combined with the empowerment and clear accountability of our employees – we will remain decisive and nimble in order to continue our success in the future,” Asoka Woehrmann, CEO of DWS Group, said.

DWS’s new structure will come in to full effect on July 1, also following subsequent changes to our leadership composition.

Globally integrated structure

The DWS Executive Board will become leaner and more compact, reflecting the firm's globally integrated structure:

• Based in Frankfurt, 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 the firm'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.
• Based in Frankfurt, Stefan Kreuzkamp will remain Global CIO and head the Investment Division.
• Dirk Goergen will lead DWS' Client Coverage Division globally. He will be based in Frankfurt.
• Manfred Bauer will join the Executive Board as head of the Product Division on July 1. He will be based in Frankfurt.
• Pierre Cherki, Bob Kendall and Nikolaus von Tippelskirch will step down from the Executive Board and leave DWS.

In addition, the Executive Board will be complemented by a newly formed Global Leadership Team (GLT), DWS revealed.