SWITZERLAND - Deutsche Bank has revamped the executive team at its Swiss asset management divisions DWS and Deutsche Asset Management.
The rejig will see DeAM's Switzerland chief executive Sven Rump take over as CEO of fund arm DWS Investments from Philipp Hensler, who is joining Deutsche's Scudder Investments in New York. Fixed income head Beat Widmer will take over from Rump at DeAM.
Rump remains chief investment officer and "will continue to be responsible for the local asset management".
"His appointment to the role of CEO provides essential continuity and will underpin the successful expansion of DWS Investments as one of Switzerland's leading fund companies," the bank said.
DeAM operates Deutsche Bank's institutional business in Switzerland. Widmer joined DeAM Switzerland in 2000.