German asset manager DWS has elected Annabelle Bexiga and Richard I. Morris Junior to the Supervisory Board until the end of the General Meeting that resolves on the ratification of the acts of management for fiscal year 2022; this with a majority of 99.99 % and 98.83 %, respectively.
Asoka Woehrmann, CEO of DWS, emphasised considering the challenging environment for asset managers: "As announced, we have already focused our attention on cost efficiency in the first quarter and accelerated our cost initiatives. This enabled us to reduce adjusted costs by another two percent in the first quarter. We will continue to pursue this strict cost management program. And we expect to see the biggest effects of this program in the second half of the year."
Woehrmann adds in relation to the growth opportunities that DWS will target: "DWS will accelerate the path to the digitalisation of asset management. We will create the necessary freedom shortly to be able to use the dynamics of a start-up to map the entire value-chain of an asset manager digitally and automatically."
He also said: "DWS will make sustainability a core component of its fiduciary action. This topic is very important to us on our course to growth. Sustainability and sustainable investments will be the driving force behind successful asset management in just a few years. We recognize this not only as responsible managers - but we also clearly see this in the investment behaviour of our global client base.
"Demand for ESG investment products has risen significantly. And we are convinced that it will continue to rise. We will respond to this and make sustainability the core of DWS's activities. We have initial solutions that have been well received by our clients."