Skip to content

Deutsche Bank Replaces DWS’s Woehrmann After Greenwash Raid

  • Woehrmann will be replaced by Deutsche Bank executive Hoops
  • Deutsche Bank and DWS offices were raided on Tuesday
Video player cover image
DWS CEO Replaced Following Greenwashing RaidSource: Bloomberg
Updated on

Deutsche Bank AG’s embattled DWS Group Chief Executive Officer Asoka Woehrmann resigned hours after a police raid at the asset manager, the culmination of months of controversy surrounding the executive.

Stefan Hoops, head of the German lender’s corporate bank, will assume the top role at DWS from June 10, according to a statement Wednesday. His previous role will be taken by David Lynne, who leads the corporate bank for Asia-Pacific based in Singapore.