UK – Deutsche Asset Management, the second largest manager of European pension assets, has named the heads of its seven new “business streams”.

John Wood and Alastair Cuming will head UK equities while Stephen Barrow and Marina Lund will head global equities.

Fixed income will be headed by Steve Ilott while Steven Bell and Robin Hindle Fisher will lead multi-assets. Property will remain under Bill Hughes while Michael Warren will oversee retail. The head of hedge funds has yet to be decided.

The moves are part of a revamp that will see each team taking profit and loss responsibility and follows a review last year. DeAM said all staff would continue to be part of one of three groups - investment, distribution and infrastructure, under Karl Sternberg, Robin Hindle Fisher and Simon Kempton.

"The market is changing and in the interests of our clients we intend to remain ahead of the curve," said DeAM UK chief executive Paul Berriman. DeAM also re-stated its commitment to balanced and multi-asset fund management.

Meanwhile, DeAM’s UK real estate arm has named Mark Rattigan as chief operating officer.

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