Deutsche Asset Management confirmed the departure of its head of Equities Henning Gebhardt and Steffen Leipold, head of Retail distribution for Germany and Austria.
Gebhardt, who spent 20 years at DeAM, spent more than 15 years as manager of the group’s flagship DWS Aktien Strategie Deutschland fund, which closed earlier this year after reaching its maximum investment capacity.
According to German Fonds professionell, he now aims to take on a new challenge in the German funds industry while the management of the DWS Aktien Strategie Deutschland and DWS Investa funds will be taken over by Tim Albrecht, head of Germany, Austria and Switzerland Equities.
Gebhardt’s position on the management board will be taken over by CIO Stefan Kreuzkamp while the replacement for his position as Global head of Equities is still to be confirmed.
His departure follows the recent announcement of a reshuffle of DeAM’s leadership, with former AXA CEO Nicolas Moreau set to join the group’s management board.
Leipold has been with Deutsche for 17 years, Thorsten Michalik, head of Coverage EMEA, APAC and Japan will take over his role on an ad interim basis until a replacement has been confirmed.