DWS Investments, part of the Deutsche bank Group, continues to expand in emerging markets with the appointment of Luiz Ribeiro as head of Latin American Equities.

Ribeiro will be responsible for DWS’ investment strategy in the region, based primarily in São Paolo, reporting to Andreas Römer, head of Emerging Markets at DWS. He previously held the same post at the Abu Dhabi Investment Authority (ADIA), the highly respected sovereign wealth fund.

Asoka Wöhrmann, chief investment officer at DWS, noted that Ribeiro is the second sovereign fund manager to move to DWS in recent months, after Hian-Boon Tay joined DWS from the sovereign wealth fund GIC, the Government of Singapore Investment Corporation.

Ribeiro, 44, a Brazilian national, started his career in financial markets in 1988 and joined ABN AMRO in 1994, initially working as an equity analyst, and later as a portfolio manager for Latin American equities.

He moved to the IFC-World Bank in 2003, and in 2005 joined HSBC Group. At HSBC, Ribeiro managed one of the largest offshore Brazilian equity funds in the world, as well as other Latin America focused funds. He moved to ADIA in 2009 to build the Latin America equity team for the sovereign wealth fund.

DWS, founded in 1956, is one of the largest global asset managers, and an integral part of the asset management division of Deutsche Bank. It is the fourth largest fund manager in Europe and also active in the United Kingdom.