German asset manager DWS has announced changes to its management team. It has bolstered its bond offering by appointing a new chief operating officer and has introduced regional CIOs in Western Europe and the Asia-Pacific region.
DWS Group has appointed Rafael Otero as chief operating officer, effective January 2024, replacing Angela Maragkopoulou.
Otero (pictured), who will report to chief financial officer Markus Kobler, was formerly at Deutsche Bank, where he most recently served as chief information technology officer and chief product officer for the corporate bank, managing the transformation of the division to align product, operations and technology. Prior to Deutsche Bank, Otero co-founded many companies including Payleven, a mobile payment company. Early in his career, Otero worked in technology roles for several large global organisations, the firm said in a statement.
“We are very pleased to have him joining us in the next critical phase of our IT transformation. With his background in the highly regulated banking and financial industry IT landscape, his experience with Deutsche Bank’s environment and his entrepreneurial spirit, his focus will be on adjusting and delivering key components of our transformation project,” CEO of DWS Stefan Hoops, said.
To enable the COO function to focus on delivering the continuing IT transformation, Kobler will assume board responsibility for the chief operating office, the firm added.
The firm also paid tribute to Maragkopoulou who, it said, had “focused on optimising information technology governance and regulatory compliance and preparing for an enhanced IT and data architecture.”
In order to strengthen its regional bonds' offering, Björn Jesch, global chief investment officer at DWS, has also decided to introduce regional chief investment officers in Western Europe and APAC. Vera Fehling and Ivy Ng will take on these roles with immediate effect, the firm said.
Fehling joined DWS in 2011 as a portfolio manager in the Euro IG Credit Team. In 2013, she transferred to multi asset and solutions as a portfolio manager for liability driven investments, where she soon took over significant blue chip client mandates.
Ng, who joined DWS in 2013, is a senior portfolio manager covering Asia ex Japan property markets. With a background as a financial journalist, investment magazine founder and an author on economics, she brings a different perspective to her role, the firm added. Prior to joining DWS, Ng was with LaSalle Investment Management.