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Deutsche Asset & Wealth hires smart beta head
by James Phillipps on Sep 20, 2013 at 07:53
Martin Weithofer has joined Deutsche Asset & Wealth as head of smart beta within its passive asset management division.
Weithofer joins from Assenagon Asset Management, where he was managing director, and will be tasked with overseeing Deutsche’s distribution and risk management of its enhanced beta products.
Based in Frankfurt, he will report into the group’s global head of passive asset management Reinhard Bellett, who said: ‘The development of smart beta passive solutions and products is very much a natural evolution of the passive asset management business, and it is an area that is certainly attracting the attention of investors.
‘We intend to be at the forefront of that evolution. Martin will be the architect of this, using our sophisticated product development and sales expertise to take a lead in this rapidly growing area.’
The hire comes as Deutsche embarks on a big smart beta push with Bellett saying in July that he wanted to grow the bank’s passive division to €150 billion by 2015 from the €96 billion of assets it had at the time.