DWS Investments, the mutual fund arm of Deutsche Asset Management, has confirmed the hiring of Rajan Raju as managing director, chief executive officer of DWS Asia and global head of DWS Solutions.

The statement follows recent news reports of Raju's departure from his position as head of consumer banking at DBS. In his new role, Raju will be based in Singapore and will report to Ingo Gefeke, the global head of distribution and product management at DWS Investments.

The company offers locally manufactured retail investment products in India, Korea and Taiwan, and also services clients with selective international products across the Asia Pacific, including Singapore, Australia and Hong Kong.