Deutsche Asset Management (DeAM) has appointed a raft of new regional chief operating officers (COO) for Europe, the Asia/Pacific region and the Americas, as part of the restructure of its institutional and retail businesses.
The positions, which became effective from June 1, include the promotion of Dan Kramer to COO for Europe, Michael Monaghan as COO Asia/Pacific and Lori Callahan and Gary Cohen as joint COO for the Americas.
Cohen maintains his position as Chief Investment Officer for the Americas, reporting to Dean Barr.
DeAM has also promoted Natalie Zornitsky to the role of chief operating officer, alternative investments, in what the group says is a bid to become a ‘market leader’ in this arena.
Deutsche says Zornitsky will be charged with ensuring that the operations of the Alternative Investments Group tie up with the asset management organisation as a whole.
The group has also put into place a global operating committee, chaired by Tom Hughes, which will include the newly promoted chief operating officers and meet on a weekly basis.
James Goulding, chief executive at DeAM in London, says the promotions fit into the overall business structure of the asset manager, which runs on three global business lines, retail, institutional and alternative investments – incorporating real estate, private equity and hedge funds.
The business lines, he adds, all run along three functional lines, manufacturing, infrastructure (operations and IT) and distribution.
“ Within this infrastructure we have a global COO and a COO for each region.
“ Quite a lot of this existed already but there are one or two tweaks we’ve made to improve the structure.
“ To some extent these are new promotions. We’ve always had a COO in Europe, a COO in Asia Pacific and the Americas. They’re not new roles but the people in them are new.”