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The Independent UK
The Independent UK
National
Via AP news wire

Deutsche Bank subsidiary CEO resigns after greenwashing raid

Deutsche Bank DWS Asoka Woehrmann
Copyright 2020 The Associated Press. All rights reserved

Deutsche Bank subsidiary DWS said on Wednesday that its chief executive is resigning, hours after authorities raided its offices as part of a probe into claims that the company exaggerated the sustainable credentials of some of the financial products.

CEO Asoka Woehrmann is set to step down after the company's annual general meeting on June 9, DWS said. He will be succeeded by Stefan Hoops, who currently oversees Deutsche Bank's corporate and commercial client activities.

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