Listed fund manager DWS has streamlined its executive board and business structure to “tackle the long-term challenges facing the asset management industry”, with three board members exiting the firm.

From 1 July, the €700bn asset manager  will introduce a “unified global investment division”, which will incorporate its entire range of stock-picking, index funds and alternative investments. The investment division will be led by Stefan Kreuzkamp, who is global chief investment officer at DWS.