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German asset manager DWS has appointed Vanessa Wang as the new head its Asia Pacific (APAC) business, effective 1 April 2023.

Wang will succeed Holger Naumann, who will return to Frankfurt to assume other responsibilities before retiring from the group by the end of this year.

She will report to DWS CEO Stefan Hoops and will operate out of Hong Kong. Wang will also continue to hold her existing position as the head of the firm’s client coverage in APAC.

Prior to joining DWS as head of client coverage in APAC in 2021, she held senior leadership positions at various firms including Amundi, Citi, and Mercer in Beijing.

Hoops said: “Vanessa has long been familiar with the region and has demonstrated impressive leadership skills in knowing our business.

“Her appointment represents the importance of APAC as a strategic region to DWS. We are happy to be able to cater to the needs of our clients on the ground together with and via our strong strategic partners Harvest, Nippon Life, and KBAM.

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“The fact that we have just extended our strategic partnership with Nippon Life for another five years after a successful first phase is also a real testament to the joint efforts and tireless work of Holger, Vanessa and their team in the region.”

The latest development comes two months after DWS announced a plan to sell its private equity solutions business to Brookfield Asset Management.