German asset manager DWS has appointed Angela Maragkopoulou as chief operating officer (COO) as it looks to modernise its IT and operations.
She replaces Mark Cullen, who is set to leave the firm after more than three years as group COO and more than 20 years with DWS and Deutsche Bank in various roles.
The change, the first major move to be made under new chief executive Stefan Hoops, will see Cullen’s portfolio split between two new appointees.
In addition to Maragkopoulou taking on the COO role, DWS has also appointed Karen Kuder as chief administration officer.
Both women will be added to the DWS executive board at the end of the year.
Kuder was previously general counsel of Deutsche Bank, while Maragkopoulou joined from Deutsche Telekom, where she has overseen a number of operational transformation projects.
“As COO, and together with her team, she will complete DWS’s transformation to a modern, stand-alone IT and operations landscape,” said Hoops.
“Furthermore, she will drive the development of a data strategy and digital channel strategy going forward,” he added.