Deutsche Bank: Christian Sewing must take action

It is the biggest crisis that Christian Sewing has had to survive in his time at the helm of Deutsche Bank. The scandals at the in-house fund subsidiary DWS and the involuntary departure of its boss Asoka Wöhrmann are explosive enough to question the hard-earned progress of the past few quarters.

It is true that at first glance it is “only” an image crisis. But image and business success can hardly be separated, especially in the financial business. Sewing has little choice but to act quickly and decisively now.

The question of whether DWS boss Asoka Wöhrmann has a future in the Deutsche Bank group has been in the room for months. Since early Wednesday morning, four o’clock, it has finally been clear that the answer is no.

After the public prosecutor’s office raided the fund subsidiary of the largest domestic financial institution on suspicion of prospectus fraud, it was clear that Wöhrmann could no longer be held.