WestLB's risk management controls have come under scrutiny after it emerged last week the German bank suffered an estimated €100m ($134m) loss from a wrong bet its proprietary traders made on the share price movement of carmaker Volkswagen.

Markus Bolder, executive director of equity trading, and Friedhelm Breuers, co-head of equity markets, have been dismissed by the bank after they exceeded its limits on risk while gambling the bank's own money on the price difference between the carmaker's common shares and preference shares.