DWS Investments, the mutual fund family owned by Deutsche Bank AG that is the successor to two storied U.S. fund firms, has had a turbulent history. But its executives say the business, built with acquisitions including the former Scudder Kemper Investments, is on course to notch its first year of positive net flows in several years. A big reason, the executives say, is an expansion and upgrade of its intermediary distribution force.
"On the intermediary side — broker-dealers, independents, [registered investment advisers] and bank advisers — our goal this year has been to establish best-in-class personnel to face off in the field," said Michael Woods, head of U.S. distribution. "On the national accounts side, it's been to get the best people by recruiting and retaining."
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