Deutsche Bank announced Thursday it has appointed Axel Benkner Global Head of Retail for Deutsche Asset Management (DeAM) and Axel Schwarzer head of Scudder Investments.

Benkner, 52, is currently the head of DWS Investments - DeAM's leading mutual fund business in Europe. He will continue to be the head of DeAM Europe (ex-UK). In his new role, Benkner will oversee DeAM's retail businesses, including DWS and Scudder Investments, with assets of over EUR 200 billion under management. Before this appointment, Benkner was the global co-head of the DeAM retail group, along with William N. Shiebler. Shiebler will become vice chairman of DeAM.

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