Deutsche Bank subsidiary CEO resigns after ‘greenwashing’ raid

The headquarters of the Deutsche Bank in Frankfurt, Germany (Michael Probst/AP)

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

Asoka Woehrmann is set to step down after the company’s annual general meeting on June 9, DWS said.