 | |
| Company type | GmbH & Co. KGaA |
|---|---|
| FWB: DWS SDAX Component | |
| ISIN | DE000DWS1007 |
| Industry | Investment management |
| Founded | 1956; 69 years ago (1956) |
| Headquarters | Mainzer Landstraße 11-17,Frankfurt , |
Key people | Stefan Hoops (CEO) |
| Products | Mutual Funds ETFs Alternative Investments |
| Revenue |  €2.603 billion (FY 2023) |
| €553 million (FY 2023) | |
| AUM | €933 billion (30 June 2024) |
| Total assets | €11.68 billion (FY 2023) |
| Total equity | €7.82 billion (FY 2023) |
| Owner | Deutsche Bank (79.49%) |
Number of employees | 4,378 (FY 2023) |
| Website | dws.com |
| Footnotes / references [1] | |
TheDWS Group (Formerly: Deutsche Asset Management) commonly referred to asDWS, is a Germanasset management company. It previously operated as part ofDeutsche Bank until 2018 where it became a separate entity through aninitial public offering on theFrankfurt Stock Exchange.[2][3] It is currently headquartered inFrankfurt, Germany and is a constituent member of theSDAX index.
DWS was founded inHamburg in 1956 as "Deutsche Gesellschaft für Wertpapiersparen mbH" (German Enterprise for Securities Savings), the name was later shortened to DWS, "Die Wertpapier Spezialisten" (The Fund Specialists). Originally, the activities involved products and investment services that were initially offered to investors in Germany and throughout Europe. Activities under the DWS Investments brand were later expanded to include separate line-ups of products and investments services for investors in theUSA,Asia and other regions.[4]
OriginallyDeutsche Bank held 30% of DWS while the rest was held by otherfinancial institutions.[5] However, by 2004, DWS was wholly owned by Deutsche Bank.[6]
In 2009, DWS took control over Rosenberg Real Estate Equity Funds (RREEF) which was also owned by Deutsche Bank.[7]
In 2012, Deutsche Bank announced the establishment of its Asset & Wealth Management (AWM) division which DWS was fully integrated into.[8] The DWS brand name was retained as the name for the German retail business. However, in 2015, AWM was split into Deutsche Asset Management and Deutsche Bank Wealth Management.[9]
In 2017, Deutsche Asset Management was rebranded to DWS with Deutsche Bank planning topublicly list aminority stake of it.[10]
In 2018, DWS wasspun off as a separate company through aninitial public offering on theFrankfurt Stock Exchange.[2][3] However, despite being a separate company, the majority of DWS shares are still held by Deutsche Bank at 79.49%.[11]
In October 2018, DWS named Asoka Woehermann as the replacement for formerCEO Nicolas Moreau.[12]
In 2022, Asoka Wöhrmann resigned from his post of CEO after the company's offices in Frankfurt were raided by police.[13] He was replaced by Stefan Hoops who was previously head of the corporate bank at Deutsche Bank.[13]
A DWS annual report in 2020 claimed that half of the company's assets ran throughenvironmental, social and corporate governance (ESG) criteria. An internal report contradicted this, and stated that only a small amount of the firm's investments applied ESG.[14] As a result of the probe, German regulators began investigatingDeutsche Bank president Karl von Rohr's role in the DWS.[15]
In 2021,The Wall Street Journal reported that theUnited States Department of Justice andU.S. Securities and Exchange Commission were investigating DWS' claims of sustainable investing.[16][17]
In September 2023, DWS agreed to pay $25 million to settle the SEC's charges that DWS failed to develop a mutual fund anti-money laundering program and made misstatements regarding its ESG investment process. DWS did not admit or deny the SEC's findings in its settlements.[18] The greenwashing complaint was led by DWS's previous head of ESG, Desiree Fixler. The DWS's "ESG integration policy" labelled €459bn in assets as green. Adjusting the measurement criteria resulted in a 75 per cent fall in assets reported as green.[19]
DWS Investments UK sponsoredEnglishprofessional football club,Aston Villa F.C. from 2004 to 2006. After DWS Investments UK was bought out byAberdeen Asset Management, DWS decided it would not renew its sponsorship contract as it had no more business links with the UK.[20]
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