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October 02, 2009

Commerzbank concludes sale of Swiss subsidiary

Commerzbank has completed the sale of Commerzbank (Switzerland) to the Vontobel Group as previously announced. The Swiss regulatory authorities have given their approval to the transaction. Commerzbank (Switzerland) has its headquarters in Zurich and operates in the private banking sector. As of 31 December 2008 it had 127 employees and managed assets of 4.5 billion Swiss francs.

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