Press Release Press Release


April 26, 2011

Changes to the Board of Managing Directors and the Supervisory Board of Bank Forum

● Vadym Berezovyk to become Chief Executive Officer (CEO) of Bank Forum

● Sybille Kroiss succeeds Vadym Berezovyk as Chief Risk Officer (CRO)

● Michael Bonacker and Meinolf Wagener elected to the Bank's Supervisory Board

The Supervisory Board of Bank Forum has nominated Vadym Berezovyk as Chief Executive Officer (CEO) of the Bank with effect from April 29, 2011. Within the Board of Managing Directors Berezovyk has to date been responsible for the Bank's risk management, as well as the portfolio restructuring division. At the same time the Supervisory Board agreed to relieve Yaroslav Kolesnyk of his duties as CEO of Bank Forum in accordance with his request. The change is still subject to approval of the relevant supervisory authorities. Sybille Kroiss will assume the responsibility for risk management for Berezovyk in her new role as Chief Risk Officer (CRO) on the Bank's Board of Managing Directors. She comes to this role with wide-ranging experience in risk management as well as a profound knowledge of the Central and Eastern European markets.

"We look forward to be working together with Vadym Berezovyk in his new role as CEO of Bank Forum. Together with him, we will further align Bank Forum with the needs of medium-sized companies as well as private customers, in particular from the Ukraine's growing middle classes. Yaroslav Kolesnyk helped shape the stability of the Bank in what remains a difficult market environment. For this, I would like to thank him warmly and wish him also personally all the very best for the future," said Achim Kassow, responsible for the Central & Eastern Europe (CEE) segment within Commerzbank's Board of Managing Directors.

Michael Bonacker and Meinolf Wagener were elected by the Annual General Meeting (AGM) of Bank Forum to the Supervisory Board of the Bank. As Divisional Board Member, Michael Bonacker is responsible for strategy and group development of Commerzbank and Meinolf Wagener is responsible for group controlling. The Acting Chairman of the Supervisory Board, Sascha Klaus, was affirmed by the AGM as Chairman of the Supervisory Board of Bank Forum. Sascha Klaus is responsible for risk management in the Commerzbank Central & Eastern Europe Holding. The membership of Martin Zielke, responsible for Private Customer Business Commerzbank's Board of Managing Directors, ended with the termination of the AGM.
The 38-year-old Vadym Berezovyk studied at Kiev State Economic University where he also obtained his doctorate in 2006. After holding positions in the corporate customer department of Aval Bank and in risk management of Ukrsotsbank, a subsidiary of Unicredit Group, he was appointed to the Board of Managing Directors of Bank Forum at the end of 2009.

Sybille Kroiss, 47, graduated from the Leipzig Graduate School of Management and has worked for Commerzbank since 1991. After holding various posts in the Private Customer business, she moved into Corporate Banking in 2001 and oversaw the expansion into the Central and Eastern European markets. She joined Bank Forum in 2010.

Commerzbank currently holds 94.5 % of shares in Bank Forum. As per 31 December 2010, the Bank counted more than 24,000 business and 500,000 private customers and around 200 branches.

Press contact:
Simone Fuchs +49 69 136 44910

About Commerzbank
Commerzbank is a leading bank for private and corporate customers in Germany. With the segments Private Clients, Mittelstandsbank, Corporates & Markets, Central & Eastern Europe as well as Asset Based Finance, the Bank offers its customers an attractive product portfolio, and is a strong partner for the export-oriented SME sector in Germany and worldwide. With a future total of some 1,200 branches, Commerzbank has one of the densest networks of branches among German private banks. It has around 60 sites in 50 countries and serves approximately 14 million private clients as well as one million business and corporate clients worldwide. In 2010 it posted gross revenues of EUR 12.7 billion with some 59,100 employees.

This release contains statements concerning the expected future business of Commerzbank, efficiency gains and expected synergies, expected growth prospects and other opportunities for an increase in value of the company as well as expected future net income per share, restructuring costs and other financial developments and information. These forward-looking statements are based on management's current expectations, estimates and projections. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such forward-looking statements. Commerzbank has no obligation to periodically update or release any revisions to the forward-looking statements contained in this release to reflect events or circumstances after the date of this release.