Asoka Wöhrmann, the chief executive of listed German asset manager DWS, said he will “not be intimidated” by allegations made against the firm over its ESG credentials and denied any wrongdoing after reports that he attempted to buy a €160,000 Porsche during his time at Deutsche Bank.

Regulators in the US and Germany are currently investigating DWS after its former head of sustainability, Desiree Fixler, claimed it had overstated how much it used sustainable investing criteria to manage its assets.