Deutsche Bank majority-owned asset manager DWS Group is to turn its fund management platform from a transaction model into a digital one by streamlining existing technology models.
The new digital platform will be created from DWS’ current fund management platform, robo-advisor WISE, investment app Edison, and DWS Direct.
Kai Bald and Stephan Scholl will lead the IKO 2.0 project. As co-heads they will be responsible for the new platform including front line, operations as well as technology.
According to an analysis by management consultancy Bain in November 2017, assets on fund platforms are expected to grow by about 20% per annum in the coming years, outpacing expected overall average assets under management or exchange-traded funds market growth.
Thorsten Michalik, head of Europe, Middle and Africa and Asia Pacific at DWS Group, said: “Fund platform business models are one of the key growth areas in asset management in Europe, expected to significantly outgrow traditional asset products.”
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