DWS Promotes Steven Kim to Head of Real Estate Asset Management for APAC

German fund manager DWS Group this week promoted Seoul-based Steven Kim to head of real estate asset management for Asia Pacific, as the fund management unit of Deutsche Bank continues to rework its management team.

Kim, formerly the manager’s head of real estate asset management in Korea, will now lead DWS’ environmental, social and governance strategies for its Asia Pacific portfolio, working alongside local asset managers in South Korea, Australia, Singapore and Japan.

“I look forward to working closely with our talented asset managers in the region to expand our capabilities, grow our assets under management, and deliver superior results for our investors,” Kim said in a press release on Monday. Reporting directly to DWS’ APAC head of real estate Christopher Kimm, his responsibilities will also include overseeing large-scale development projects across the region.

Kim’s promotion is the latest in a series of personnel moves at DWS in recent weeks, with the firm having last month announced that it had hired George Anastasiou from MEC Global Partners Asia, a member of the Mitsubishi Estate group, as head of real estate in Australia.

Korea Expert

“Steven brings an abundance of experience to this position and proven success achieving many notable value-add asset management initiatives, leasing transactions and successful dispositions in Korea,” said Kimm. “DWS recognizes the importance of a strong asset management team and its positive impact on the real estate platform,” he added.

Now a fourteen-year DWS veteran, in his most recent role at the company, Kim managed a portfolio comprising 27 properties in sectors including logistics, office, and retail.

Prior to joining DWS, Kim served as a real estate development manager at Samsung Life Insurance for eight years beginning in 2000, where he was in charge of more than 20 developments, including high-profile projects such as Tower Palace III, Sunhwa Tower and Samsung Seocho Tower, according to the press release.

Between 1996 and 2000, Kim worked in the architecture division at Samsung Group’s construction and engineering unit C&T Construction.

New Teams

With €83 billion ($82.1 billion) in global real estate assets under management as of 30 September, DWS has been shaking up its management team in recent months. In late November, it announced the appointment of former Blackstone senior managing director and chief operating officer Paul M. Kelly as global head of its €126 billion alternatives franchise.

“All alternatives investment businesses will report (to) Paul and together with the alternatives leadership team, he will be responsible for delivering a cohesive cross-product global strategy, and accelerating expansion of the business,” said DWS in a press release at the time.

Days before that announcement, Stefan Kreuzkamp, head of DWS’ investment division, announced plans to step down in order to make room for a new management team, with his resignation to become effective at the end of the year.

In his place, global chief investment officer Björn Jesch and the team’s asset class officers will report to DWS CEO Stefan Hoops, the firm said.