Outgoing chief investment officer at Deutsche Bank’s asset management business, Asoka Wöhrmann, said his legacy is the creation of a €748 billion fund manager running under a single investment approach. And there is reason to think it will survive Deutsche’s current upheavals.

As both Wöhrmann and his boss, asset management head Michele Faissola depart, Deutsche has recruited a man with a reputation as a troubleshooter to become the new head of asset management: Quintin Price, formerly head of alpha strategies at BlackRock. He was the man tasked by Larry Fink, BlackRock's chief executive, two years ago with reviving its flagging active equities investment operation.