July 30, 2009
Commerzbank sells subsidiary in Switzerland
Commerzbank sells its entity Commerzbank (Switzerland), founded in 1985, to Vontobel Group. It was agreed to dislose the purchase price until the closing of the transaction. The sale is still subject to the approvals of the relevant authorities.
Commerzbank (Switzerland) with headquarters in Zurich, a branch in Geneva and a subsidiary in Vienna is active in private banking. As of December 31, 2008 it had 127 employees and assets under management of CHF 4.5 billion.
