Axel Schwarzer has been appointed as the new Head of the Vontobel Group’s Asset Management business unit, effective 4 May 2011.
A qualified lawyer, Schwarzer has had a long international career in Deutsche Bank’s asset management business, where he was one of the driving forces behind the significant growth of DWS Investments Europe. He also played a pivotal role in DWS Americas (formerly Scudder) and led the successful turnaround of the business. Axel Schwarzer was most recently a member of the Executive Board of DWS and of the Global Management Committee of DeAM (Deutsche Asset Management), where he was responsible for the management of strategic distribution partnerships.
Schwarzer will take over operational responsibility for the Asset Management business unit when Dr Zeno Staub becomes the new CEO of the Vontobel Group on 4 May 2011.
Dr Uns Widmer, Chairman of the Board of Directors of the Vontobel Group, says: “Axel Schwarzer is the ideal candidate to assuming this challenging management function in view of his broad-based expertise and international experience.”
Herbert J Scheidt, CEO of the Vontobel Group and designated Chairman of the Board of Directors, adds: “The seamless transition in the management of the business unit will enable us to continue pursuing our successful multi-boutique strategy and growth path in Asset Management.”
Axel Schwarzer began his career at Deutsche Bank in Frankfurt in 1988, where he held various strategic and operational positions in the areas of securities funds and asset management from 1990 onwards. In 1997, he was named Head of Distribution Support and later Head of Product Management of Deutsche Bank’s Retail and Private Banking divisions. In 1999, he transferred to DWS Investments – one of Europe’s largest providers of investment funds – where he was appointed Managing Director with responsibility for Marketing, Sales and Product Management. Before relocating to New York as Head of Asset Management Americas and DWS Investments Americas (formerly Scudder) in 2005, Axel Schwarzer served as European Head of Distribution of DWS and DeAM. In 2009, he was named Vice Chairman of DeAM as well as Global Head of Relationship Management at DWS Investments.
Staub, designated CEO of the Vontobel Group, adds: "With his vast specialist knowledge and experience, Axel Schwarzer will be a professional and valued partner to our clients, business partners and employees."