German private bank Berenberg has recruited Tim Albrecht from DWS to serve as the new head of German equities within its wealth and asset management arm.

Albrecht will assume the new role on 1 January 2019 and will report to Berenberg equities CIO Matthias Born.

“With fund managers like Matthias Born, Peter Kraus, Andreas Strobl and now Tim Albrecht, we have an outstanding team of investment experts to propel our growth course, with unique expertise in German and European equities. The performance, that our equity-team has achieved so far, shows, that we have taken the right path. This high-profile new hire will give us an additional boost,” Born stated.

Albrecht joined DWS in 2000, where he currently leads the equities unit for the German-speaking countries.

Besides, he serves as the lead fund manager for DWS Investa, DWS Deutschland and DWS Aktien Strategie Deutschland.

He also served as the head of German equities and global sector head for industrials at DWS.

Berenberg head of wealth and asset management Henning Gebhardt said: “Tim Albrecht has won many awards as a fund manager, and I value him greatly as a colleague.

“His coming on board is a clear reflection of our intention to become one of the best equity investment houses in Germany and Europe.”