Deutsche Asset Management on Tuesday announced the appointment of Eric Kirsch to the newly created position of global head of insurance asset management as part of the companys reorganization.
In his new position, Kirsch will oversee the integration of global insurance advisory and client services and fixed-income management.
More insurance clients are becoming multinational, so they need a more seamless global solution to their issues, Kirsch said in a telephone interview this week.
The new position will give Kirsch oversight of the $65 billion to $68 billion in assets Deutsche manages for U.S. property and casualty insurers, approximately 15% to 18% of which is comprised of muni bonds.
In his new role, Kirsch will report to Kevin Parker, global head of Deutsche.
Erics investment background, experience with our insurance clientele, and leadership skills will enable Deutsche Asset Management to continue to be the world leader in insurance asset management, Parker said in a prepared statement.
Kirsch, who joined Deutsche in 1980, previously headed the firms fixed-income management team for New York and Boston, overseeing the insurance, stable value, enhanced, mutual fund, municipal, and cash management groups. He will continue serving in that role until a successor is found.
Based in New York, Deutsche Asset Management is the global asset management arm of Deutsche Bank AG in Frankfurt, Germany. With $730 billion in assets under management, Deutsche Asset Management is one of the largest managers of insurance company assets in the world, according to the firm.
