Deutsche Bank AG has enticed James Dilworth, Chief Executive from Allianz Global Investors, to manage and run its German Asset and Wealth Management operations, responsible for up to $658 billion worldwide.
Deutsche Bank has made a number of hires recently, including a sizable overhaul of its US ETP Division, as well as an outflow of personnel in Asia. The multinational financial services juggernaut is a leading player across fixed income, forex, and derivatives, with asset management being one of its largest operations ($1.25 trillion) in Europe.
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Dilworth Replaces Outgoing Matis Who Left In June
In his new role, Mr. Dilworth will help steer German operations on behalf of Deutsche Bank, including its managed investment products suite with an estimated value of $688 billion, a huge portion of Deutsche Banks managed assets. He will be reporting to Michele Faissola, the Head of Deutsche Asset & Wealth Management.
Mr. Dilworth joins Deutsche Bank after serving previously as the Chief Executive for Europe at Allianz Global Investors (AllianzGI) – he is presently replacing the position at Deutsche Bank vacated by Wolfgang Matis, who parted ways with the group back in June.