Deutsche Bank has announced two key hires and a reorganized structure to its global asset management unit,
Deutsche Asset Management (DAM).
The changes follow the appointment of
Michael Philipp as board member in charge of DAM, replacing
Michael Dobson, who resigned from DB on June 9.
The company said in a statement that the "existing senior management team will continue with its responsibilities in order to achieve a continuity of strategy and structure." However, Deutsche has hired two senior executives from
GCI as part of the new management structure.
Sir Robert Smith has taken the position of vice chairman of global distribution, private equity and the offshore group. He will report directly to Philipp and will continue to head the global sales & marketing committee.
Saman Majd joins DAM from GCI as vice chairman responsible for global product development. In addition,
Mark Gelnaw was hired from GCI as chief operating officer responsible for infrastructure and chair of the newly formed global operating committee.
The other appointments announced were:
Josh Weinreich, chief executive officer of the Americas;
James Goulding, chief executive officer of the UK;
Udo Behrenwaldt, chief executive officer of
Continental Europe; and
Brian Scullin, chief executive officer of the Asia-Pacific region.
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