Michael J. Woods was promoted in May to his current position at DWS Investments Americas, a retail asset management division of Deutsche Bank. Here he talks with OWS Senior Editor Lorie Konish on new products DWS has in store and how the industry can better meet changing retirement needs.
1. How do you plan to bring DWS forward in your new role? We’re now at the point where we’re trying to execute on our plan. Phase one of the plan in 2010 was really to stabilize the business, establish the right model in terms of attracting great people to the platform, retaining our best talent that we have in the platform, and then rewarding them for doing a good job. Secondly, [part of the] stabilization was to also enhance the product lineup to make sure that we get the right type of products out to the client, as well as enhance existing products … or adding different non-core related type of enhancements to different products. And now in 2011, continue on the things that we did in terms of executing at the point of sale with the model, both at the home office and also with the advisors in the field. Our gross sales are up, our net sales are up, our revenues are higher and our bottom line is better. So far the plan is working.
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