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December 05, 2007

Martin Zielke appointed Head of Commerzbank’s new staff department Group Finance

The Commerzbank Group is to merge its Accounting and Taxes and Financial Controlling departments on January 1, 2008. The Head of the new Group Finance department will be Martin Zielke (44), a Member of the Management Board of Eurohypo AG, where amongst other things he is responsible for Finance, Controlling and Tax. Mr. Zielke will continue in this role in addition to his new responsibilities.

A graduate in banking and business administration (Bank- und Diplomkaufmann), Mr. Zielke joined Commerzbank in 2002 as Group Manager Retail Banking. He went on to become Group Manager Corporate Banking before being appointed to the Board of Managing Directors of Eurohypo in April 2006. Prior to joining Commerzbank he held various management positions at Dresdner Bank and within the Deutsche Bank Group.

The new Group Finance department will enhance financial management within the Commerzbank Group by permitting closer integration of the Controlling, Accounting and Taxes functions. The change will also allow the Group to further streamline its internal structures and processes.

Chief Financial Officer Dr. Eric Strutz said: “The newly created Group Finance unit will enable us to optimize our financial management structures and processes. We are pleased to be able to appoint Martin Zielke to this key position in the Group: he is the ideal choice given his wide-ranging experience within the Commerzbank Group”.

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