Commerzbank is considering external and internal candidates to replace Martin Blessing when he steps down as CEO next year, according to people with knowledge of the matter.
Commerzbank Corporates & Markets (C&M) is the integrated Corporate and Investment Banking division of Commerzbank AG, providing corporate and institutional clients with a comprehensive range of commercial and investment banking products.
A former Commerzbank director, who said she was discriminated against in an environment more akin to a fraternity and excluded from discussions held in German, lost her employment suit against the bank.
Commerzbank said Monday that third-quarter net profit fell 8% because of a sluggish performance at its investment bank and activities with small- to midsize corporate clients.
Martin Blessing, who led Commerzbank for seven years, won’t extend his contract when it expires in 2016, becoming the latest CEO to join an unprecedented wave of management changes at Europe’s banks.
A former Commerzbank executive avoided further prison time on Tuesday after cooperating in an investigation of the bank's role in an accounting fraud at Olympus.
Commerzbank was sued by a director who said she was discriminated against in an environment more akin to a fraternity where she was isolated by discussions held in German, or at bars.
Commerzbank sold $3.2bn of commercial real estate loans to Oaktree Capital and JPMorgan, making headway with its plan to reduce riskier assets.
Commerzbank's investment banking division saw a 40% increase in operating profit in the first quarter, driven primarily by a surge in debt and currency trading, the bank said on Thursday.
The German government has blocked a plan by Commerzbank to pay bonuses to its top staff worth double their basic salary.
Commerzbank and government lawyers gained federal court approval of a $1.45bn agreement to defer prosecuting the lender for violating U.S. laws, including sanctions on doing business with Iran and Sudan.
Financial News Reports that Bank of America plans to grow the profits it makes out of its corporate and investment banking activities by nearly half in the next five years. The bank wants to get another $10bn in revenues and $3bn in profits out of the unit by 2011.
Commerzbank is moving its mergers and acquisitions operations from the U.K. to focus on German clients, according to three people with knowledge of the matter.
We've called in the services of Ivana Takitall, author of the best-selling 'Bankers, Bonuses & Big Divorce Settlements', who has agreed to rate 12 top financial markets firms in terms of how likely they are to provide single females with their perfect partner.
Citigroup has hired two former UBS base metals executives to its growing metals trading desk as part of the U.S. bank's expansion of its commodities business, the bank said on Thursday.
The Daily Mail reports that 31 year-old Aldous Voice, said to be an Associate Director in FX with a major City bank, was sentenced to four months in clink last week, after admitting endangering the safety of a helicopter by flashing a five million candle power lamp from his kitchen window.
The Sunday Telegraph reports that Credit Suisse has told Managing Directors across the group, and directors and above over at its investment banking unit, that, under the terms of its new compensation scheme, it will be able to 'clawback' some, or all, of their cash bonuses should they leave or are fired (presumably with cause) within 2 years of the payout date.
Commerzbank Corporates & Markets has announced that it has hired Jörg Bachtler as a leveraged finance specialist in its Loan Capital Markets, Leveraged Finance team in London.
Commerzbank Corporates & Markets (C&M) has hired Benjamin Melzer as Head of Financial Institution Sales Germany / Austria / Switzerland.
Commerzbank said a key measure of financial strength fell in the second quarter as it made accounting adjustments to reflect operational risks to banks across the industry.
Money.telegraph reports that Commerzbank has called off the sale of its Jupiter asset management unit, claiming that difficult trading conditions has meant that serious and acceptable offers had not been forthcoming.
Commerzbank chose Martin Zielke, the insider who overhauled its consumer-banking unit, to succeed Martin Blessing as chief executive officer.
Commerzbank has drafted a shortlist of candidates to replace Chief Executive Officer Martin Blessing when he steps down in October, according to a note to staff.
Commerzbank has sued four banks in the United States, claiming that they failed to properly monitor billions of dollars in toxic mortgage-backed securities acquired by the German lender before the 2008 financial crisis.