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Friday, December 03, 2004

Shiebler: Will He Stay or Will He Go?

by: Theresa Sim

The Financial Times hints that Scudder's top dog, William "Bill" Shiebler, may leave amid a management shakeup at Deutsche Asset Management.

Kevin Parker, the head of DeAM, has already ousted or plans to oust the three other senior executives, but unnamed insiders told the FT that Shiebler, however, "might stay in New York, either to head retail funds or to oversee problems at Scudder."

Paul Manduca, James Goulding, and Josh Weinreich, the heads of European, Asian and absolute return strategies groups, respectively, are out or already on their way out.

Shiebler was traveling on Friday and unavailable for comment, according to his assistant. DeAM spokeswoman Christine Pollack declined to comment.

Shiebler joined DeAM a little more than two years ago from Putnam Investments.

The management shakeup is part of Parker's larger overhaul of DeAM's business along product lines instead of by geographic region, reported the FT. Parker will likely spare the US business, "for the time being," reported the FT

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