Michael Woods, who was recently promoted to run DWS Investments' [see profile] entire US business in addition to leading distribution, gave On Wall Street an update on how the asset manager is doing.

As Woods mentioned in an interview with MFWire.com earlier this month, phase one in 2010 was about stabilizing the business. Those efforts include enhacing the product lineup and establishing a model for attracting and retaining talent.

"And now in 2011, continue on the things that we did in terms of executing at the point of sale with the model, both at the home office and also with the advisors in the field," Woods told On Wall Street. "Our gross sales are up, our net sales are up, our revenues are higher and our bottom line is better. So far the plan is working." 

Edited by: Armie Margaret Lee


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