Changes in the management of DWS Group

DWS Group has today announced another change to its management team. Stefan Kreuzkamp is stepping down as Head of the Investment Division effective the end of 2022 and is leaving the company by mutual agreement after 24 years. The Chief Investment Officer and the asset class officers will report to CEO Stefan Hoops in the future.

"Stefan Kreuzkamp has played a decisive role in the success of DWS in recent years, especially since the IPO in 2018," said Karl von Rohr, Chairman of the Supervisory Board of DWS. "He has brought together DWS' outstanding expertise in all asset classes into a powerful Investment Division. Under his leadership as former Chief Investment Officer, and while he was responsible for the Investment Division, DWS' portfolio managers have outperformed the competition many times, creating value for our clients. We thank him for his contribution, regret his departure, and wish him all the best and much success for his professional and private future."

Stefan Hoops, CEO of DWS, added: "Stefan Kreuzkamp and I have known each other for more than 10 years. During this time, we have worked together intensively, and I have come to appreciate him as a colleague and partner. I am also very grateful to him personally for his commitment and sense of responsibility. He has created a strong leadership team in the Investment Division and ensured that DWS' investment expertise rests on several shoulders. Together with our Chief Investment Officer Björn Jesch, the team will continue to deliver independent, excellent portfolio management for our clients. In an environment where the ability to offer differentiated investment strategies is a key competitive advantage, we are providing more freedom to the specific asset classes to continue to deliver on our value proposition to our clients."

Stefan Kreuzkamp had agreed to the company's request to prematurely terminate his contract, which only runs until the beginning of 2024, to make room for the new management team. In September of this year, he had already made far-reaching changes to the management structure of the Investment Division and reorganized responsibility in this area: Björn Jesch has become the Global Chief Investment Officer for DWS; Fiona Bassett took over the newly-created Systematic Solutions and Implementation Platform; and Vincenzo Vedda has become responsible for the Active division, in which DWS has combined the Active Equity and Fixed Income (including Cash) asset classes. Together with the current management team of the Investment Division, Björn, Fiona and Vincenzo will report to Stefan Hoops in the future. Vincenzo Vedda will additionally take over Stefan Kreuzkamp's previous responsibilities on the management board of DWS Investment GmbH.

Stefan Kreuzkamp worked for DWS for 24 years, initially as portfolio manager for money market funds and later as head of fixed income and money market fund business and Chief Investment Officer Europe. In 2018, he took on the role as Global CIO and Head of the Investment Division.

About DWS Group

DWS Group (DWS) with EUR 833bn of assets under management (as of 30 September 2022) aspires to be one of the world's leading asset managers. Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

We offer individuals and institutions access to our strong investment capabilities across all major liquid and illiquid asset classes as well as solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, giving strategic guidance to our investment approach.

DWS wants to innovate and shape the future of investing. We understand that, both as a corporate as well as a trusted advisor to our clients, we have a crucial role in helping navigate the transition to a more sustainable future. With approximately 3,900 employees in offices all over the world, we are local while being one global team. We are committed to acting on behalf of our clients and investing with their best interests at heart so that they can reach their financial goals, no matter what the future holds. With our entrepreneurial, collaborative spirit, we work every day to deliver outstanding investment results, in both good and challenging times to build the best foundation for our clients’ financial future.