Harald Rieger shifts his position from DWS to Union Investment.
In a significant shift within the German financial sector, DWS, the asset management arm of Deutsche Bank, has announced that Harald Rieger, the current sales chief for Germany and Austria, will be leaving the company. His successor at DWS will be Gero Schomann, who is set to take over the position vacated by Rieger.
Rieger, who has been with DWS since 2007, has held various responsible positions within the company and has been the sales chief for Germany and Austria since 2019. His departure from DWS is expected to occur no later than August 2022, with an earlier start possible if DWS agrees to an earlier departure for Rieger.
Christian Freund, the current CEO of DWS Group, will take over Rieger's responsibilities in the interim. Freund is responsible for leading the company’s overall strategy and operations, driving business growth, and ensuring effective management of the asset management firm’s functions.
Meanwhile, Union Investment, another prominent player in the German financial market, has announced that Harald Rieger will be joining their team. Rieger is expected to lead both the institutional sales and the management of Union Investment Institutional, pending BaFin approval. If DWS agrees to an earlier departure for Rieger, he could start at Union Investment sooner.
André Haagmann, who currently serves as the head of institutional business at Union Investment, will be leaving the company in March next year. He will be replaced by Harald Rieger, who will take over the position of Haagmann and lead the institutional business of Union Investment by August 2022 at the latest.
In addition, it was announced that Gero Schomann will join the fund provider of Deutsche Bank, taking over the sales region of Germany and Austria. Schomann has previously held various responsible positions at Deutsche Bank from 1997, before joining DWS. He is currently in the management of DWS International.
Lastly, André Haagmann will join the management board of Union Asset Management Holding in March next year. This move will add a new dimension to Union Investment's institutional business, as they prepare for the arrival of Harald Rieger in the coming months.
Other finance-related businesses in the German market will be impacted by Harald Rieger's departure from DWS, as he is set to join Union Investment. Union Investment's institutional business will witness a change in leadership with André Haagmann's departure, to be replaced by Rieger.
