James Dilworth was appointed managing director and head of active asset management at Deutsche Asset & Wealth Management, said a spokesman.
Subject to regulatory approval, Mr. Dilworth will also become CEO of Deutsche Asset & Wealth Management Investment GmbH, a Frankfurt, Germany-based unit, and will be a member of parent bank Deutsche Bank's regional management committee for Germany.
Mr. Dilworth replaces Wolfgang Matis, who retired last month. He will be based in Frankfurt, responsible for the strategic development and positioning of the firm's active investment strategies across the globe and multiple asset classes. He will report to Michele Faissola, head of Deutsche Asset & Wealth Management.
A spokeswoman for DeAWM said a start date has not yet been finalized.
Mr. Dilworth is currently CEO for Europe at Allianz Global Investors. A spokesman confirmed that he is leaving, and said he had significantly contributed to the integration of Allianz GI's business in Europe.
George McKay, Allianz global chief operating officer, “will assume additional responsibilities for the European business on an interim basis,” said the spokesman. The firm will announce a successor “in due course.”
DeAWM has €934 billion ($1.3 trillion) in assets under management, with active strategies accounting for just more than half of that total.