DWS Group (DWS) AGM 2024 summary

Opening remarks and agenda

• AGM opened with formalities, including confirmation of proper convening and attendance of all board members and notary.

• Chairman Karl von Rohr announced this was his last AGM as Chairman, with Oliver Behrens proposed as successor.

• The agenda and proposed resolutions were made available online and at the venue.

• The meeting was broadcast live, with recordings available post-event.

Board and executive committee updates

• Oliver Behrens introduced as candidate for Supervisory Board Chair, with extensive experience in asset management.

• Bernd Leukert stepped down from the Supervisory Board, reflecting Deutsche Bank policy.

• New CFO Markus Kobler appointed, bringing experience from Allianz Global Investors.

• Angela Maragkopoulou ended her role as COO, with Markus Kobler assuming COO responsibilities.

Financial performance review

• Net inflows of EUR 28 billion in 2023, with assets under management rising to EUR 896 billion by year-end.

• Adjusted revenues and profit before tax were lower than 2022 due to lower average assets under management.

• Adjusted cost income ratio was 64%, within the projected range.

• Proposed ordinary dividend of EUR 2.10 per share and extraordinary dividend of EUR 4 per share.

• Q1 2024 saw net inflows of nearly EUR 8 billion and record assets under management of EUR 941 billion.