DWS Group names new CEO

Asoka Woehrmann was named CEO of Deutsche Bank’s recently-listed asset manager DWS Group, replacing Nicolas Moreau.

Woehrmann was also named a senior group director for the money management business at parent firm Deutsche Bank.

Woehrmann, who joined Deutsche Bank 30 years ago, most recently served as head of retail banking in Germany and will take on his new role with immediate effect, while giving up his seat on the DWS supervisory board.

Moreau, named head of Deutsch’s asset managing arm three years ago, will remain with DWS, one of Europe’s largest listed asset managers, until the end of the year.