Caroline Pearson
About Caroline Pearson
Caroline Pearson (age 63) serves as Chief Legal Officer of The New Germany Fund, Inc. (GF) and has held this officer role since 2012. She is a Managing Director at DWS; roles include Co-Regional Head, Americas Legal at DWS (since 2024) and Chief Legal Officer of DBX Advisors LLC (since 2019), with prior leadership across DWS’s U.S. registered investment companies’ legal functions (since 2010) . Fund-level officer pay is not used as a performance lever at GF—no compensation is paid by the Fund to officers—so there are no officer-linked TSR/revenue/EBITDA performance metrics disclosed for Pearson in GF’s proxy .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| DWS Group | Co-Regional Head, Americas Legal | 2024–present | Leads Americas Legal function, advising on regulatory/compliance across fund complex |
| DBX Advisors LLC | Chief Legal Officer | 2019–present | Oversees legal for ETF advisor (DBX), supporting product/governance |
| DBX ETF Trust | Assistant Secretary | 2020–present | Supports ETF trust governance and records |
| DWS U.S. registered investment companies | Chief Legal Officer | 2010–present | Senior legal leadership across DWS-advised U.S. funds |
| DBX Strategic Advisors LLC | Chief Legal Officer (former) | 2020–2021 | Led legal for affiliate advisor |
| DWS | Legal (Senior Team Lead) | 2020–2024 | Managed senior legal team within DWS |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No external public company directorships disclosed for Pearson in GF’s proxy . |
Fixed Compensation
Note: GF does not compensate officers. Officers are employees of DWS/affiliates; the Fund pays directors (independent) but not officers.
| Component | GF Fund-paid amount | Source |
|---|---|---|
| Base salary | $0 (no compensation paid by Fund to officers) | |
| Annual cash bonus | $0 (no compensation paid by Fund to officers) | |
| Pension/SERP/Deferred comp from Fund | $0 (no compensation paid by Fund to officers) | |
| Perquisites paid by Fund | $0 (no compensation paid by Fund to officers) |
Performance Compensation
| Incentive type | Performance metrics | Target | Actual payout | Vesting | GF Fund treatment |
|---|---|---|---|---|---|
| RSUs/PSUs/options (Fund-level) | — | — | — | — | None; GF does not grant officer equity or pay officers |
Implication: There are no Fund-level pay-for-performance levers tied to Pearson at GF (no cash/equity), and no Fund-linked vesting overhang or forced selling related to GF officer awards .
Equity Ownership & Alignment
| Item | Detail | Date |
|---|---|---|
| Beneficial ownership in GF | None | As of May 16, 2025 |
| Officer/director group ownership | 6,236 GF shares in aggregate (<1% of outstanding) | As of May 16, 2025 |
| Pledged/hedged shares | Not disclosed | — |
| Stock ownership guidelines (officers) | Not disclosed at Fund level | — |
| Notes | Footnote indicates ownership of Deutsche Bank AG or DWS Group securities via direct/deferred comp for individuals marked “(10)” |
Employment Terms
| Term | Disclosure | Source |
|---|---|---|
| Title and start | Chief Legal Officer; serving since 2012 | |
| Election/term | Officers are elected annually by the Board at its meeting following the Annual Meeting; each serves until a successor is elected/qualifies | |
| Removal/resignation | Officers may be removed by the Board; officers may resign by written notice; election itself does not create contract rights | |
| Vacancies | Board may fill any officer vacancy for balance of term | |
| Severance/CoC economics (Fund-level) | Not disclosed for officers; Fund pays no officer compensation | |
| Non-compete/solicit, clawbacks, tax gross-ups (Fund-level) | Not disclosed | — |
Investment Implications
- Compensation alignment: There is no Fund-level officer compensation, equity, or performance pay, so Pearson’s incentives at GF are not a driver of Fund-level pay-for-performance alignment; any incentives reside at DWS/affiliates and are not disclosed in GF’s proxy .
- Selling pressure/vesting overhang: With no Fund-granted equity and no reported beneficial ownership in GF by Pearson, there is minimal near-term insider selling pressure tied to vesting or option exercises at the Fund level .
- Skin-in-the-game: Pearson reported no GF share ownership, which limits direct alignment with GF shareholders at the Fund level; however, the proxy footnote indicates certain officers may hold Deutsche Bank/DWS securities via direct or deferred plans, implying alignment with the adviser rather than GF .
- Retention/continuity: Pearson’s long tenure (officer since 2012) and current senior DWS legal leadership suggest continuity of legal and governance oversight for the Fund; officer roles are elected annually and are at-will per bylaws, with removal/resignation mechanisms and no Fund-level employment contract rights created by election .
Scope note: Closed-end fund proxies focus on director compensation; officer compensation, employment contracts, severance/change-in-control terms, and performance metrics for DWS-employed officers are not disclosed at the Fund level. Where the proxy is silent, items are omitted per instructions. All data are drawn directly from GF’s 2025 DEF 14A and governing bylaw disclosures.