Noreen Roberson
About Noreen Roberson
Noreen Roberson, 61, serves as Assistant Treasurer of The New Germany Fund, Inc. (GF) and was appointed in 2025; she is a Vice President at DWS and a Senior Fund Administration specialist supporting DWS US registered investment companies . GF’s proxy and filings disclose no education details and do not tie executive officer compensation to fund performance; officers are employees of DWS and receive no compensation from GF, limiting direct pay-for-performance alignment to GF shareholders . As of her initial Section 16 filing and GF’s proxy snapshot, Roberson reported no beneficial ownership of GF shares, implying no insider selling pressure and no vesting schedules related to GF equity .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DWS | Vice President; Senior Fund Administration (Senior Specialist) | Not disclosed | Fund administration responsibilities across DWS US registered investment companies |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed in GF proxy for Roberson | — | — | — |
Fixed Compensation
GF pays no compensation to officers (including Roberson); officers are employed and compensated by DWS. Therefore, base salary, target bonus, actual bonus, and equity award values are not disclosed by GF.
- No compensation is paid by GF to officers .
- No director/officer compensation committee exists because the funds have no employees .
Performance Compensation
Because GF does not compensate officers, there are no GF-linked incentive structures, performance metrics (e.g., revenue, EBITDA, TSR), or vesting schedules disclosed for Roberson.
- No GF-paid bonuses or performance metrics tied to officer compensation .
- No vesting schedules or GF equity awards disclosed for officers .
Equity Ownership & Alignment
| Metric | As of 2025-05-12 | As of 2025-05-16 |
|---|---|---|
| GF Shares Beneficially Owned (shares) | 0 | None (0) |
| Officers & Directors as a group – GF shares (shares) | — | 6,236 (<1% outstanding) |
- Form 3 (05/12/2025) states “No securities are beneficially owned” for Roberson .
- Proxy lists Roberson’s GF beneficial ownership as “None” at May 16, 2025 .
- Pledging: Not applicable given zero holdings; no pledging reported .
- Options/derivatives: None disclosed for officers .
Employment Terms
- Role: Assistant Treasurer, elected annually by the Board following the Annual Meeting; officers serve across the DWS fund complex .
- Start/tenure: Assistant Treasurer since 2025 .
- Employer: DWS Investment Management Americas, Inc.; GF has no employees and therefore no officer compensation committee .
- Employment agreement, severance, change-of-control terms, non-compete/non-solicit: Not disclosed in GF filings .
Investment Implications
- Alignment: Roberson’s compensation is set by DWS and not GF, and she holds no GF shares, which structurally limits direct pay-for-performance alignment to GF shareholders; however, the fund’s operating model (no GF-paid officer compensation) is standard for externally managed closed-end funds .
- Selling pressure: Zero reported beneficial ownership and absence of GF equity awards imply no near-term insider selling pressure and no vesting-related overhang from Roberson .
- Retention risk: Roberson’s retention incentives are tied to DWS employment rather than GF-specific contracts; GF’s governance indicates officers are elected annually but employment terms reside with DWS, reducing GF-level control over retention levers .
- Governance signals: With no compensation committee and no GF-paid officer compensation, primary signals to monitor are officer appointment/changes via 8-K 5.02 and any future Section 16 updates for ownership changes; current disclosures show no red flags such as pledging, hedging, or option repricing for Roberson .