German index provider Solactive has hired Peter Diel (pictured) as head of product development from DWS.

Diel’s role includes taking responsibility for Solactive’s three product development teams across equity, fixed income and complex index development. This enables the firm to improve efficiency of its index development business.

Diel joins Solactive from Deutsche Bank and its asset management arm DWS having spent 23 years with the business.

He held various management positions in his prior role with the most recent being managing director. This involved leading the passive portfolio management for institutional clients across Europe and Asia.

In addition to the new hire, Solactive has established new responsibilities for its senior members. Steve Chew, formerly head of platform management, has assumed the role of head of operations, responsible for the company’s operations activities.

Chew oversees the ongoing calculations and publication of index levels as well as the management of indices over the complete lifecycle.

At the end of October, Timo Pfeiffer was promoted from head of research and business development to chief markets officer.

Solactive: Gold - yielding after all

Steffen Scheuble, CEO of Solactive, commented on the recent hire: “Peter’s appointment contributes crucially to our company’s growth as we anticipate the requirement to streamline our structures in the indexing department.

“His vast management experience in running and structuring the passive institutional client business of two major global regions simultaneously makes him the ideal choice on our path to fulfil Solactive’s vision to deliver a superior indexing experience for our clients.”