When Simon Cooke’s wife died of cancer a few years ago he realized something would have to give. His role as chief executive of Deutsche Property Asset Management was demanding and he didn’t have enough time for his two young children.
In an attempt to achieve more flexibility Cooke initially tried to convince Deutsche Asset Management to allow him to restructure the property business as a separate boutique. Senior management would take a 50% cut of the profit in an attempt to improve the performance of DePAM by linking managers’ goals to fund performance.
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