The news of the change at the top of DWS came just hours after the raid.
The pressure on Asoka Wöhrmann was simply too great.
The rumors about the greenwashing allegations, which the American stock exchange supervisory authority SEC is now also dealing with, have been circulating for months.
Is there less green in DWS than it says on the outside?
Neither DWS itself nor Deutsche Bank as the parent company had been able to refute the allegations.
The events surrounding DWS throw a spotlight on the discussion about sustainability, in particular on the green wave that the financial industry loves to ride.
The competition will do the devil to point the finger at Deutsche Bank's fund subsidiary.
In the best case, she herself is in the process of meticulously analyzing whether a product that has been declared particularly sustainable or green offers some form of attack surface.
Sustainability with the supporting pillars environment, social affairs and good corporate governance is a billion-dollar business for the financial industry.
Regardless of whether they are large institutional investors or private investors: there is great demand for products that help transform the economy to be more climate-friendly.
The challenge for companies is gigantic, as is the need for financing.
It is not reprehensible that banks and asset managers want and are able to earn money with sustainability.
In the best-case scenario, everyone earns money by rethinking climate protection.
However, the financial industry has to put up with the accusation of overdoing the possibilities again.
The marketing seems way ahead of the facts.
It is difficult to provide proof of this, because there are still no binding rules and standards as to what green, what sustainable means at all.
That will also remain difficult.
CO2 emissions can be determined, but how exactly can child labor in supply chains be quantified?
It is therefore important that self-declared pioneers such as Deutsche Bank or DWS show more determination.
Replacing the boss is, at worst, just a fig leaf,