The firm said Kreuzkamp had agreed to the company’s request to prematurely terminate his contract, which runs until the beginning of 2024, to “make room” for the new management team.
Back in September, he made a raft of changes to the management structure of the investment division, including the appointment of Björn Jesch as global chief investment officer, Fiona Bassett as head of the newly-created systematic solutions and implementation platform, and Vincenzo Vedda as head of the active division.
Jesch, Bassett, Vedda and the firm’s asset class officers will now report to CEO Stefan Hoops. In addition, Vedda will take over Kreuzkamp’s previous responsibilities on the management board of DWS Investment.
Kreuzkamp first joined DWS as portfolio manager for money market funds, later becoming head of fixed income and money market fund business and CIO for Europe. In 2018, he took on the role as global CIO and head of the investment division.
Karl von Rohr, chair of the supervisory board of DWS, thanked Kreuzkamp for his contribution, adding the company “regrets his departure” and pointing out the “decisive” role he played in the success of the company in recent years, especially since its IPO in 2018.
“Under his leadership as former chief investment officer, and while he was responsible for the investment division, DWS’ portfolio managers have outperformed the competition many times, creating value for our clients. We wish him all the best and much success for his professional and private future,” he said.
Stefan Hoops, CEO of DWS, added: “Stefan Kreuzkamp and I have known each other for more than 10 years. During this time, we have worked together intensively, and I have come to appreciate him as a colleague and partner.
“He has created a strong leadership team in the investment division and ensured that DWS’ investment expertise rests on several shoulders. Together with our chief investment officer Björn Jesch, the team will continue to deliver independent, excellent portfolio management for our clients.”