Klaus Kaldemorgen relinquishes DWS CEO role

Klaus Kaldemorgen has stepped down from his role as chief executive of DWS, in a series of significant changes among senior managers at the mutual fund arm of Deutsche Asset Management

Kaldemorgen had asked Kevin Parker, global head of Deutsche Asset Management, for the move, to be able to focus wholly on running money including in his existing equity funds, DWS Vermögensbildungsfonds I and DWS Akkumula, and in a range of Ucits-compliant, absolute return funds under development at the €150bn asset manager.

Parker said: “Without the distraction of administrative and global management duties Klaus will be free to bring his full talent to bear on the development of absolute return funds as an important area of business growth for DWS. With his strong performance track record and reputation as one of Europe’s leading investment managers, Klaus is ideally suited to this task.”

Wolfgang Matis has been appointed to new global chief executive of DWS, as well as to the management board of DWS Investment GmbH.

Previously head of Deutsche Bank’s global markets unit in Germany, Matis will report to Parker in his new role.

Additionally, Asoka Wöhrmann will become chief investment officer for fixed income and equities.

Separately, Ingo Gefeke is stepping down from DWS’s board of management to take on a new role in Deutsche Asset Management in New York, which allows him to be closer to his family, and Axel Schwarzer is leaving DWS.

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