Deutsche Bank taps co-CIOs for new asset and wealth management division

Updated

Randy Brown and Asoka Woehrmann were named co-chief investment officers of asset management at Deutsche Bank's Asset and Wealth Management division, a spokeswoman confirmed.

Mr. Brown was global head of Deutsche Insurance Asset Management, while Mr. Woehrmann was global CIO of DWS Investments.

The announcements follow a revamping of the division earlier this month that saw the transfer of passive investment and alternatives capabilities from Deutsche Bank's investment bank to its new asset management division, which incorporates the former units.

Also announced Monday:

  • Reinhard Bellet, global head of db X-trackers, Deutsche Bank's ETF business, was named head of passive investments.
  • Wolfgang Matis, CEO of DWS Investments, was named head of active investments.
  • Pierre Cherki, global head of RREEF Real Estate, was named head of alternative investments (internal managers).
  • Stephane Farouze, global head of fund derivatives at Deutsche Bank, was named head of alternative investments (third-party managers).
  • Balaji Prasanna, global head of lending and wealth planning in the bank's private wealth management unit, was named head of loans/deposits, and asset and liability management.

Some executives will keep their prior duties, however in many cases those duties have been redefined by the restructuring of the division, spokeswoman Mayura Hooper said.