DWS names new local CEO

German asset management firm DWS has named Lidia Tomova as the new local chief executive although she will continue as head of coverage for Australia and New Zealand.

Tomova will take over from Chris Robinson, who will continue to lead the liquid real assets business in the Asia Pacific.

The new local head has had a 20-year career with DWS and Deutsche Bank in Australia and the UK.

Reporting to DWS head of client coverage for Asia Pacific Vanessa Wang, Tomova will be tasked with shaping the growth strategy of DWS Australia.

DWS noted that the new local chief executive's extensive knowledge of the global franchise and the local market will help her to strengthen connections between the Australian team and the DWS global network.

The new chief executive expressed her excitement for the leadership role and the task of expanding DWS' presence in Australia.

"There are many opportunities for Australian clients to leverage the firm's global investment expertise, research knowledge capability, and client coverage," she said.

"Australia is a mature investment market and continues to play a defining role in shaping and driving pension investments. I look forward to forging more partnerships with investors locally."

Wang praised Tomova's leadership, experience, and vision, stating that they would be crucial in driving DWS's strategic objectives and enhancing the value they deliver to clients and stakeholders in the local market.

Wang also acknowledged Robinson's leadership and contribution to the business so far.

"Chris played a key role in establishing and building the network and client reach of DWS in Australia over the past years."

Tomova will also be appointed chair of DWS Investments Australia, following regulatory approval.