Press Release Press Release


September 18, 2008

Board of Managing Directors of the new Commerzbank appoints top executive level

  • Important milestone of integration accomplished
  • Blessing: "Acquisition of Dresdner Bank proceeds as planned"

As announced at the beginning of September, the Board of Managing Directors of the new Commerzbank has now made a decision regarding the top executive level in the Private Customers, Mittelstand, Corporates & Markets, Central and Eastern Europe, Commercial Real Estate segments as well as in the service and steering units. "The acquisition of Dresdner Bank proceeds as planned. The appointments mark an important milestone in preparing for the integration," said Martin Blessing, CEO of Commerzbank.

"We have selected the top people with whom we will master the tasks ahead of us," commented Blessing. "It is one of the strengths of Commerzbank to integrate talents from outside of the bank very quickly and very well." The goal was to select the best-qualified candidates, regardless of their previous roles. 40 of the members of the new executive level for the divisions to be integrated are already working for Commerzbank Group. 15 are currently deployed at Dresdner Bank. One of the new Executives will join Commerzbank from the outside. The latest these appointments will come into effect following the commencement of the merger in the second half of 2009. Until then, responsibilities within the Bank will remain unchanged. These 56 Executives have been selected now so that they can participate in shaping the integration from the start. A further four Executives are to be named in due course. The four Executives of the Commercial Real Estate segment remain in charge; Dresdner Bank does not have a comparable unit. In total new Commerzbank's top executive level will comprise 64 members.