GERMANY - Deutsche Asset Management has appointed J P Morgan Fleming’s Peter Kerger to head institutional sales in Germany.
Kerger, who started at the beginning of the month, leads the institutional relationship manager team in Frankfurt. He reports to Oliver Behrens, speaker of the board of DeAM Germany.
The appointment comes as parent Deutsche Bank is in the midst of reviewing DeAM’s future in the UK following an exodus of top staff and institutional assets.
In his previous capacity Kerger was a fixed income client portfolio manager, focusing on mandates in the corporate bond, high-yield and asset-backed securities arenas.
His position has not yet been directly filled, J P Morgan spokeswoman Annabelle Unger said. For the time being Michael Mewes, head of the fixed income group, and Ulrich von Auer, portfolio manager and economist at the international fixed income group in Frankfurt, are standing in.
Last month DeAM unveiled plans to launch multi-manager funds for the German-speaking institutional market.
Together with consultant RMC, the asset manager will offer two multi-manager funds to institutional investors in German-speaking Europe from the second quarter onward and expects to take in €2bn within two years.