As CIO, she will look after a team dedicated to environmental, social and governance concerns across the German bank’s active, alternatives and passive investment businesses. The existing ESG research and governance teams will be absorbed into the new group.
The newly created role is a long time coming, according to head of Deutsche AM Nicolas Moreau, who says the firm “has recognised the importance of ESG within its investment approach for many years.”
He continued: “We are proud to have been amongst the early signatories to the UN supported Principles for Responsible Investment (PRI) in 2008. It is important we build on this heritage, and use our expertise to help clients who want support in this important investment area.”
Pflaum will remain in her role as EMEA head of equities for Deutsche AM but will be assisted by new co-head Britta Weidenbach, who currently presides over the group’s European equities arm. Both women have been with Deutsche AM since 1999.
The firm added that Pflaum will also sit on the management board, representing its equity and equity trading businesses.
“I am delighted that someone of Petra Pflaum’s capabilities will take on this important position as CIO for Responsible Investments and member of the Management Board for Deutsche Asset Management Investment GmbH, and that Britta Weidenbach will join her as EMEA Co-Head of Equities,” Moreau mused. “Both are outstanding talents who have held a number of leadership roles over many years within Deutsche AM.”
