Patrizia picks former DWS chief for CEO as Egger steps aside

Former DWS group chief executive Asoka Wöhrmann has been appointed Patrizia’s new CEO designate.

Wöhrmann will assume responsibility immediately and will become sole CEO after a brief period of transition, during which he will be supported by the company’s founder and CEO Wolfgang Egger. Egger plans then to focus on existing and future strategic client relationships and the strategic development of the company as both a member of the board of directors and Patrizia’s majority shareholder. He said he remains “fully committed” to the company.

“Asoka Wöhrmann brings a comprehensive international leadership experience, in-depth knowledge of financial markets and the global asset management industry as well as a broad international client network to Patrizia,” said Egger. “He shares our values, entrepreneurial spirit, and long-term vision along with our principles of inclusivity, openness, and strong collaboration.”

Meanwhile, a new COO role has been created which will be filled on 1 June by Slava Shafir, formerly of Corsair Capital.

Thomas Wels, who has served as co-CEO alongside Egger, has completed his three-year term and takes on a consulting role as senior advisor to the company, focusing on the Asia-Pacific and Japan region.

Egger said that Wels was responsible for creating the company’s new mid-term plan, bringing further internationalisation and building up momentum in Asia-Pacific.

Patrizia chairman Uwe Reuter explained that with the company’s conversion to SE (Societas Europea) status last year it has reshaped and strengthened the corporate management structure and leadership team.

Wöhrmann began his career as a research fellow and lecturer at the Technical University Vienna and the University of Magdeburg after completing his doctoral degree in Economic Sciences from the University of Magdeburg. He joined DWS in 1998 as a portfolio manager and later worked in various global leadership roles in the fixed income, multi asset, absolute return and currency divisions of the DWS’s fund platform and until 2015, was responsible for the entire fund management platform as global chief investment officer.

He then headed the private client business of Deutsche Bank’s Private & Commercial Bank (PCB) in Germany becoming CEO and chairman of the managing directors of DWS Group in 2018, and senior group director of Deutsche Bank until 2022.