In a controversial move, Deutsche Bank’s asset manager DWS has appointed EY as its new group auditor—despite suing the firm for its role in the Wirecard scandal. This marks a high-profile win for EY after a two-year ban from acquiring new listed clients in Germany due to its audit failures in the Wirecard collapse.
The U.S. SEC announced two separate enforcement actions against DWS Investment Management Americas Inc. (DIMA or DWS), an affiliate of Deutsche Bank AG. The first action pertains to DIMA's negligence in establishing an Anti-Money Laundering (AML), while the second addresses misleading statements about its Environmental, Social, and Governance (ESG) investment practices. DIMA has consented to pay penalties totaling $25 million to resolve these charges.
After months of speculation about his future on the Management Board of Deutsche Bank, Karl von Rohr, one of the two deputies of Deutsche Bank CEO Christian Sewing, is leaving the institute after more than a quarter of a century. He has informed the supervisory board that he will not seek an extension of his management board contract. The 57-year-old's term of office will thus end on October 31, 2023.