Deutsche Bank AG’s investment arm DWS Group promoted several women to senior positions while others announced their departure, underscoring the firm’s challenges in gender diversity.
Andrea Rothmund is joining as head of human resources from parent company Deutsche Bank and Regine Schickentanz as chief IT architect from Deutsche Telekom, according to a DWS spokesman. The firm also promoted Jessica Hardman to run its UK operations, the spokesman said. At the same time Cynthia Nestle, US operations head, and Kristina Theiss, US head of coverage, are leaving.
The changes at DWS demonstrate the struggles that Europe’s financial services firms are facing to make good on promises to increase the proportion of women in leadership positions. Deutsche Bank recently expressed regret over its failure to meet its own target to hand at least one-fifth of seats on its management board to women. At present, only one member of the nine-member body is female.
Deutsche Bank Gender Gap Shows Europe Is Failing Diversity Test
DWS has seen two other senior female executives announce their departure in recent weeks, namely Americas head of ETFs, Fiona Bassett, and Chief Financial Officer Claire Peel. Bassett joined the London Stock Exchange Group as chief executive officer of the firm’s index provider FTSE Russell.
DWS’s six-member management board currently includes three women including Peel. The two others are Chief Operating Officer Angela Maragkopoulou and Chief Administrative Officer Karen Kuder.
