Deutsche Bank AG’s asset management arm is bringing back corporate titles after a decision to scrap them a few years ago caused frustration among staff.

DWS Group will roll out markers of seniority including the coveted managing director title to staff in August, according to people familiar with the matter. The Frankfurt-based firm plans to send a memo to staff on Wednesday announcing the change and it will inform them individually about their new titles next month, the people said.

A representative for DWS declined to comment.

DWS got rid of the corporate titles a little over three years ago in a move it announced with considerable fanfare and said would flatten hierarchies and improve collaboration. Instead, many staff soon privately complained it had led to confusion about their seniority when meeting external executives and slowed their career progression.

While the DWS move attracted attention from other financial services firms at the time, very few followed suit. The latest decision will likely serve as a cautionary tale in the future.

Bloomberg News last year reported that DWS was considering reversing the move. Financial News first reported the decision.

  - Bloomberg