DWS has appointed Patrick Connors as its new Global Head of Private Credit, a move aimed at strengthening its position in the private credit market. Connors will report directly to CEO Stefan Hoops, according to a company statement.
Connors joins DWS from Deutsche Bank, where he currently serves as the European Head of the Global Credit Financing and Solutions Group. With over 15 years at Deutsche Bank and a background with Citi and PwC, Connors brings extensive expertise across all areas of private credit, particularly in asset-based finance.
His appointment comes as Deutsche Bank and DWS begin a strategic collaboration on private credit, marking a key step in DWS’s ambition to accelerate growth in alternative investments. The partnership will leverage the combined strengths of both institutions to enhance their private credit capabilities.
As part of the reshuffle, DWS has also restructured its alternatives business. Paul Kelly, the current Global Head of Alternatives, will step down from his position and transition into a new role as Chair of Alternatives. Kelly, a Blackstone veteran, will focus on strategic partnerships and inorganic growth opportunities in his new position.
The role of Global Head of Alternatives will not be replaced, with the heads of the business units for infrastructure, real estate, and liquid real assets now reporting directly to Hoops.
