German issuer DWS Go stressed it does not intend to withdraw from the German structured certificates market, as reports emerged that the bank is revising its business. "No decision has been made. For the time being, we continue with our activities on the certificate market," said a spokesman. The ongoing 'crisis' in the local certificates market has, however, prompted the bank to review its product range and it has closed products with very low volume.
DWS Go confirmed that the person responsible for certificate sales has lost his position, and that Matthias Liermann, who is considered to be the architect of DWS's structured products platform, will move to Deutsche Bank.
So far in 2009, DWS Go has launched only three products. It acted as third-party issuer for a fourth product issued by JPMorgan.