DWS Ready to Attack the U.S. Market
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Thursday, June 15, 2023

DWS Ready to Attack the U.S. Market

DWS CEO Stefan Hoops says that the United States is a key area for future growth. Hoops, who took over the top spot at the publicly traded, Deutsche Bank-backed asset manager twelve months ago, outlined his strategic plan to grow the firm during its investor presentation today.

Stefan Hoops
DWS Group
Hoops said that his aim is to expand DWS' [profile] Xtrackers and passive business worldwide at a 12 percent CAGR through 2025. The passive business is "highly profitable, given a certain size," said Hoops. He added that the U.S. market remains the largest market for passive products in the world and that DWS will pursue an efficient growth plan for the U.S. market.

"The focus there will be on customized passive products," said Hoops.

Hoops also outlined plans to reshape the German asset management giant around a digital strategy that includes moving its funds onto the blockchain.

"We are convinced that the time has come for trusted, regulated market participants to offer services on the blockchain," said Hoops. "That is why we are working for example on bringing so-called digital twins to the market, which make existing funds investable for clients with digital wallets."

"In the medium term, our wish is to become a tokenizer ourselves. That is to be able to bring real and virtual assets onto the blockchain," Hoops explained. "We consider this additional service relevant because we believe that more and more assets will be mapped onto the blockchain in the future. This also opens up opportunities for trusted providers."

Hoops said that additional projects being worked on at DWS are the creation of a Euro stable coin backed one-to-one by the Euro and a series of exchange-traded products (ETPs) for that will allow Europeans to invest in crypto currencies in a well-known and trusted wrapper.

In April DWS announced a long-expected partnership with Galaxy Digital, a U.S.-based specialist in the creation of digital assets (see coverage in our sister pub CeFiWire, "NovagratzFinds a Star Partner in Europe," April 26, 2023). The two firms are working on creating the initial ETPs that are expected later this year.

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