New DWS boss Stefan Hoops: The lightning careerist

Frankfurt Stefan Hoops gets by with little sleep. On Wednesday, three hours had to be enough to exchange ideas with the most important executives of the Deutsche Bank subsidiary after his overnight lightning promotion to head of the fund company DWS and to discuss which top customers should now be trusted after the resignation of his predecessor Asoka Wöhrmann.

Despite all the negative headlines, Wöhrmann had ensured good figures and a steady flow of fresh customer funds. After all, Hoops brings one important quality of Wöhrmann’s with him to his new position: “Stefan is a good networker and well connected at Deutsche Bank,” says someone who has known him for a long time.

Now Hoops, who still has to prove that he can also be an asset manager, takes over. Many investors also see it that way: the DWS share price went to the diving station after Wöhrmann’s departure.