Deutsche Asset splits region; appoints UK head

Deutsche Asset & Wealth Management (DeAWM) has appointed Randy Brown as head of the United Kingdom, a newly created role.

With Brown’s appointment as country head, the UK becomes a separate region within DeAWM's organisational structure, alongside Germany; Asia Pacific; the Americas; and Europe, the Middle East & Africa (EMEA). It was formerly run as part of the EMEA region.

DeAWM said the appointment signals the division's strong commitment to the UK and aligns it with Deutsche Bank's structure.

Based in London, Brown is responsible for leading DeAWM's business activities in the UK.

Additionally, Brown has been appointed global head of insurance and pension solutions, as DeAWM seeks to maintain its focus on delivering solutions to liability oriented investors.

A managing director, Brown continues to report to Michele Faissola, head of DeAWM, and to serve on DeAWM's global executive committee. He also joins the UK executive committee, chaired by Colin Grassie, chief executive officer of Deutsche Bank UK, which oversees all activity in the UK region.

Brown most recently served as DeAWM's co-chief investment officer (CIO) alongside Asoka Wöhrmann. Prior to this, he was the global head of Deutsche Insurance Asset Management, the world’s largest manager of non-affiliated assets for the insurance industry

Faissola said: "The UK is one of the world's most important markets for asset and wealth management. We are committed to growing our business here, enabling more clients across the country – both institutions and wealthy individuals – to benefit from our global investment solutions.

"Randy has been an excellent Co-CIO. He and Asoka created a strong, integrated investment platform of over 700 investment professionals, and strengthened performance across our equity, bond and multi-asset investment strategies."

Colin Grassie, CEO of Deutsche Bank UK, said: "As a global universal bank, Deutsche Bank provides clients in the United Kingdom with a full range of financial services. Asset and wealth management is a core part of our offering and will become an increasingly important component of our UK business. I am delighted to have someone with Randy’s talents representing DeAWM in the region and I look forward to working with him."