Stefan Keitel, currently chief investment strategist at Berenberg Bank is set to leave the group as of 2016 in order to join German DekaBank, the central asset manager for Sparkassen Finanzgruppe.
He will join the board of Dekabank and cover the securities and trading division, replacing Oliver Behrens, who left the group six months ago in order to join Morgan Stanley.
Keitel will now work in close collaboration with Deka CEO Michael Rüdiger who covered Behren’s tasks on an ad- interim basis, Rüdiger will continue to be in charge of distribution to institutional clients.
Keitel’s move comes only 18 months after he joined Berenberg as global chief investment strategist, throughout that time, he was one the key personalities at Germany’s oldest private bank. Prior to that, he spent 12 years at Credit Suisse, among others as chief investment strategist. He also contributed to Investment Europe as member of the Editorial Board.
Speaking to Investment Europe, he comments on his decision: “This was a challenge I simply couldn’t resist, an attractive mandate with one of the few systemically relevant banks in Germany.”
“This was clearly a decision in favour of Deka and not against Berenberg. During the past 18 months we succeeded in reinforcing professional structures and processes which will have a lasting impact.”
Michael Rüdiger, comments: “Stefan Keitel is one of the best in this industry, with him we have gained a seasoned asset management expert with global experience in capital markets and thorough local roots.”