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Mutual Fund Brand(s)
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In October 2015, Deutsche Bank split up Asset & Wealth Management, moving private wealth management under the private & business clients division while turning asset management into its own separate division.|
On November 22, 2011, Deutsche Bank's executives said that they are weighing "strategic options" for its worldwide DWS Investments business, including the U.S. mutual fund arm but excluding DWS in Asia and Europe. Reports have included estimated pricing of between $2 billion and $6.1 billion. Then on February 28, 2012, Deutsche Bank revealed "exclusive negotiations" with Guggenheim Partners [profile], which has already acquired Claymore and Rydex. Yet Deutsche and Guggenheim ended the negotiations in May 2012 for all save the alternatives business. On September 11, 2012, Deutsche revealed that it will keep DWS, and the brand is now Deutsche Asset & Wealth Management.
DWS was founded as the U.S. retail operator for Deutsche Bank's worldwide asset management operation. The DWS name first appeared in Frankfurt, Germany in 1956, but the firm's composition has changed many times throughout its history. The company's oldest ancestor is Scudder Stevens and Clark, which was founded in 1919 and launched the Scudder International Fund, the first open-ended mutual fund to invest solely outside the United States.Founded in 1948 Chicago, Kemper Financial was the next piece of the puzzle. Five Chicago entrepreneurs formed it to launch the so-called Television Fund, a mutual fund designed to capitalize on that technological innovation.
In 1986, Zurich Financial purchased over 80 percent of Kemper Corporation and 97 percent of Kemper Financial Services. The following year,Zurich acquired a majority stake inScudder, Stevens & Clark, New York. The Kemper activities were then merged into Scudder to create Scudder Kemper Investments.
Scudder Kemper Investments rebranded to Scudder Investments in 2001.
In 2002, Deutsche Bank purchased Scudder Investments for $2.5 billion.
In February 2006, Deutsche Bank rebranded Scudder Investments to DWS Scudder. In July 2008, DWS Scudder was rechristened DWS Investments to align with Deutsche Bank's global asset management platform.
In August 2009, Philipp Hensler, who had served as CEO of DWS Investments Distributors since 2002, left the firm. Michael J. Woods, a former Evergreen Investments executive, succeeded him in that role.
In December 2013, Woods left DWS.
Outgoing Head of the Americas, Deutsche Asset Management
National Sales Manager,, DWS Investments
Chief Operating Officer , DWS Investments Americas
Head of Marketing, Deutsche Asset and Wealth Management Americas
Managing Director, Head of Passive Americas, Deutsche Asset & Wealth Management
COO -- Global Client Group, Americas, Deutsche Asset & Wealth Management
Global Head of Strategy, Managing Director, Deutsche Asset Management