German asset manager DWS Group has announced the resignation of its investment unit head Stefan Kreuzkamp, effective at the end of this year.

Kreuzkamp, who has also been the head of the investment division since 2018, is set to exit the firm after 24 years.

Following his departure, the company’s chief investment officer along with the asset class officers, will report to CEO Stefan Hoops.

Kreuzkamp has accepted the company’s offer to prematurely end his contract, which is about to conclude in the beginning of 2024, DWS said.

In his previous roles at the firm, Kreuzkamp worked as the head of fixed income and money market fund business as well as chief investment officer (CIO) for Europe.

In September this year, he undertook a number of changes to the management of the investment division, including the appointment of Björn Jesch as global chief investment officer, Vincenzo Vedda as the chief of active division, among others.

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By GlobalData

Vincenzo Vedda will now assume Kreuzkamp’s previous roles on the management board of DWS Investment in addition to his existing responsibilities.

DWS chairman of supervisory board Karl von Rohr said: “Stefan Kreuzkamp has played a decisive role in the success of DWS in recent years, especially since the IPO in 2018.

“He has brought together DWS’ outstanding expertise in all asset classes into a powerful Investment Division.

“Under his leadership as former Chief Investment Officer, and while he was responsible for the Investment Division, DWS’ portfolio managers have outperformed the competition many times, creating value for our clients.”