Vincenzo Vedda was named global CIO at DWS Group, as the money manager brings together its portfolio management, chief investment office and economic research units.
Current global CIO Bjoern Jesch will leave the €963 billion ($1.04 trillion) money manager by mutual agreement, a statement said. Jesch joined in 2020 as head of multiasset and solutions, becoming global CIO at the end of 2022. He has also resigned from his role as CEO of DWS CH AG in Zurich, and a successor will be announced shortly, the statement said.
Vedda retains his responsibilities as global head of portfolio management-public markets, a spokesperson confirmed. He continues to report to CEO Stefan Hoops.
As part of the move, DWS named Johannes Mueller to the newly created role of chief economist, reporting to Vedda. He was head of economic and thought leadership research and retains those responsibilities, the spokesperson added.
“Combining our chief investment office with our global portfolio management unit is a logical step to make even better use of our investment expertise for our clients,” Hoops said in the statement. “In Vincenzo, an experienced capital market expert is taking on this task. As well as his extensive experience in leading our portfolio management unit, he deeply understands our clients’ needs. We would also like to express our sincere gratitude to Bjoern, who is an expert and strong communicator on international capital markets, close to our clients and a great colleague. We wish him all the best for his professional and personal future." Hoops is responsible for the investment division at DWS Group’s executive board level.
Vedda joined DWS in 2013 with shared responsibility for global equities trading. He became head of active portfolio management at the end of 2022 and added responsibility for passive portfolio management last year.