A management team shift has been announced by DWS Group. At the end of 2023, by mutual consent, Angela Maragkopoulou will step down as chief operating officer (COO) and take on new challenges.

Starting on 1 January 2024, Rafael Otero will work for DWS as COO. He will be under the supervision of chief financial officer Markus Kobler, who will take over board responsibility for the chief operating officer in the interim.

Karl von Rohr, chairman of the supervisory board of DWS, stated: “We are grateful to Angela for her contributions to developing DWS’ platform. During her time at DWS, Angela has focused on optimising information technology governance and regulatory compliance and preparing for an enhanced IT and data architecture.”

Stefan Hoops, CEO of DWS, commented: “Angela also laid the foundation for an artificial intelligence (AI) hub for DWS and advanced the firm towards an optimised separation from Deutsche Bank’s IT environment. Although progress on these projects has been significant, due to recently identified aspects of our IT-transformation project, we need to focus our resources more on areas that require deep corporate knowledge of the DWS and the Deutsche Bank environments. As this focus shift does not reflect the basis on which Angela joined DWS, we mutually agreed to end her assignment. We wish her all the best for her future endeavours.”

After working for Deutsche Telekom IT GmbH as chief information officer B2B and senior vice president B2B and data analytics, Maragkopoulou joined DWS in January 2023.

She has extensive experience creating future IT strategies in the areas of cloud technology, data management, and artificial intelligence.

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By GlobalData

Maragkopoulou held a variety of national and international leadership positions at Vodafone for 19 years before joining Deutsche Telekom IT GmbH.

“Rafael is a seasoned industry and IT veteran who comes with significant expertise in managing difficult financial industry IT projects, but also of building successful Fintech-enterprises,” added Hoops. “We are very pleased to have him joining us in the next critical phase of our IT transformation. With his background in the highly regulated banking and financial industry IT landscape, his experience with Deutsche Bank’s environment and his entrepreneurial spirit, his focus will be on adjusting and delivering key components of our transformation project.”

DWS Group is not the only firm going through management changes. Bank of Singapore has also made significant changes to the Hong Kong leadership team.

The Greater China, Hong Kong branch of Bank of Singapore will name Rickie Chan as its head of private banking. Presently serving as the head of the Greater China branch in Hong Kong, Teresa Lee will assume the position of vice-chair of Greater China.

The dates of both appointments are set for 15 February 2024.