DWS has appointed Paul M. Kelly to be the global head of its Alternatives franchise.
Kelly is moving over to the firm from Blackstone where he was a senior managing director and chief operating officer of the credit division. Prior to Blackstone, he spent nearly 20 years at JP Morgan in a variety of leadership positions and started his career in equities trading at Bear Stearns.
The firm said that Kelly will report directly to Stefan Hoops, CEO of DWS. It also said that all Alternatives investment businesses will report into Kelly and along with the Alternatives leadership team, he will be responsible for delivering a cohesive cross-product global strategy, and accelerating expansion of the business through organic and inorganic measures. He will join DWS in February 2023 and will continue to be based in New York.
Hoops said: “Paul is an industry veteran with an extensive track record across private and public markets, and we are pleased to have him join DWS to lead our Alternatives franchise. We expect that, despite near-term market volatility, Alternatives will continue its growth trajectory, fuelled by the rise in retail demand and the attractive yield opportunities presented in areas such as real assets and private credit.”
He added: “Given our deep heritage in real estate and infrastructure, access to middle market lending, and strong retail network, we are well positioned to succeed in this area of strategic focus. With Paul at the helm, together with our experienced Alternatives leadership team, we can deliver on the compelling growth potential of this business.”
According to Kelly’s LinkedIn page, he has spent four years with Blackstone, following over nineteen years at JP Morgan. He also spent nearly four years with Nomura where he was vice president and international equity sales trader at its New York office.
On LinkedIn, Kenny Juarez, head of communications and marketing for the Americas at DWS Group, said: “We’re excited to welcome our new head of Global Alternatives Paul Mark Kelly to DWS Group to help us strengthen our already very successful business as we seek to accelerate growth!”
On Juarez’s post, Kelly wrote: “Really excited to be joining the team and I look forward to meeting everyone in February.”