SWITZERLAND - Tim Koevenig has been named head of sales for Switzerland at Deutsche Bank's retail and institutional asset management arms DWS and DeAM.

The appointment follows a revamp of the units’ executive team in Switzerland earlier in the summer.

DeAM's Switzerland chief executive Sven Rump took over as CEO at DWS Investments from Philipp Hensler, who was to join Deutsche's Scudder Investments in New York. Fixed income head Beat Widmer will take over from Rump at DeAM.

"DWS Investments and Deutsche Asset Management Switzerland are delighted to announce the appointment of Tim Koevenig as the new head of sales for Switzerland," the bank said in a release.

Koevenig, 39, previously headed sales of retail funds to institutional investors and wealthy private clients at DWS in Frankfurt.

He will be responsible for selling DWS's funds and DeAM's institutional products in Switzerland. He has also been appointed as Managing Director of DWS Investments Switzerland and will take on the role on October 1.