Difficult start for Stefan Hoops

Frankfurt In the course of his not-so-long career, Stefan Hoops has taken on many difficult jobs. But the assignment at the fund subsidiary DWS, to which Deutsche Bank boss Christian Sewing has now assigned him, is likely to be the most difficult so far.

A greenwashing affair that had been smoldering for months and the dubious mixing of private and business interests brought down the old DWS boss Asoka Wöhrmann a good five weeks ago. The surprise on the scene was great when Sewing nominated his close confidant Hoops as a replacement.

Now the 42-year-old, who is considered assertive not only because he likes to box in his free time, has a task ahead of him that is reminiscent of 3D chess. Hoops needs to reassure DWS employees who, as one insider puts it, “oscillate between frustration and bewilderment.”