Bjoern Jesch was named global head of multiasset and solutions at DWS Group, effective July 1.
Mr. Jesch will replace Christian Hille, who decided to leave DWS for personal reasons after 13 years at the firm, a spokeswoman said.
Mr. Jesch will be responsible for a team of 82 investment professionals and €58 billion ($64.9 billion) in multiasset and solutions assets under management.
He will report to Stefan Kreuzkamp, CIO and co-head of the investment group at DWS.
"We are very happy that Bjoern has decided to join DWS. He enjoys an excellent reputation across the asset management industry and the market as a top-notch investor and thought leader. Multiasset and solutions is a crucial part of our business, now more than ever. In a volatile market it can truly differentiate itself for investors," Mr. Kreuzkamp said in the release.
Mr. Jesch worked as global head of investment management within the international wealth management division of Credit Suisse. Mr. Jesch will not be replaced, a spokesman confirmed.
DWS Group had €776 billion in assets under management as of Dec. 31.