The promotion comes as the company consolidates its Portfolio Management, Chief Investment Office, and Economic Research units. Credit: ASDF_MEDIA/Shutterstock.

German asset manager DWS Group has named Vincenzo Vedda as its global chief investment officer (CIO), as it consolidates its Portfolio Management, Chief Investment Office and Economic Research units.                         .

Vedda will take on the new responsibility, while continuing to manage the group’s entire liquid portfolio as the global head of portfolio management – public markets.

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In the new role, he replaces Björn Jesch, who quit the company by mutual agreement.

Jesch joined DWS in 2020 as Head of Multi Asset & Solutions and became global CIO at the end of 2022. He is also stepping down as the CEO of DWS CH AG in Zurich, with a successor to be announced soon.

Vedda’s tenure with DWS has seen him ascend through various pivotal roles since joining in 2013.

He joined DWS in 2013, initially co-leading Global Equities Trading.

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In 2017, he became head of global trading, and in 2020, Vedda took on responsibilities for DWS’s European client business (outside Germany and Austria) and global wholesale.

By late 2022, Vedda was appointed head of Active Portfolio Management and later added Passive Portfolio Management in 2023.

He will continue to report to DWS CEO Stefan Hoops, who is also responsible for the Investment Division on the executive board level.

Hoops said: “Combining our Chief Investment Office with our Global Portfolio Management unit is a logical step to make even better use of our investment expertise for our clients.

“In Vincenzo, an experienced capital market expert is taking on this task. As well as his extensive experience in leading our portfolio management unit, he deeply understands our clients’ needs. We would also like to express our sincere gratitude to Björn, who is an expert and strong communicator on international capital markets, close to our clients, and a great colleague.”

Besides, DWS appointed Johannes Mueller as the group’s chief economist. Earlier head of Economic and Thought Leadership Research, Mueller will report to Vedda.