DWS Sends ‘Shock Waves’ Through ESG Fund Management Industry
- DWS CEO resigns hours after police raid of company’s offices
- French regulator says European ESG rules need to be sharpened
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The departure of a chief executive officer amid allegations of greenwashing marks a turning point for an industry that this year ballooned to more than $40 trillion.
After pegging his career to ESG, the CEO of DWS Group, Asoka Woehrmann, resigned hours after the asset manager’s offices were raided by police looking for evidence of misleading claims around environmental, social and governance investments. DWS is still being investigated in the US and Germany.