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December 02, 2011

Stephan Engels to be new Chief Financial Officer of Commerzbank

At its meeting today the Supervisory Board of Commerzbank appointed Stephan Engels to the Board of Managing Directors of Commerzbank as the successor to Dr. Eric Strutz. Engels is expected to assume his new role as Chief Financial Officer (CFO) with effect from April 1, 2012. Since 2007 the 49-year-old has been Head of Finance & Controlling at Mercedes-Benz and Head of Group Controlling and Reporting at Daimler AG. Prior to this he was CFO ¿ among others at DaimlerChrysler Bank and at DaimlerChrysler Services AG ¿ as well as a member of the Executive Committee Mercedes Benz Cars. "We are pleased, that Stephan Engels joins the bank. He will contribute his many years of experience as the CFO of a leading international automotive manufacturer," said Klaus-Peter Müller, the Chairman of the Supervisory Board of Commerzbank. "We wish Stephan Engels a very warm welcome as a member of our team and look forward to working with him," said Martin Blessing, the Chairman of the Board of Managing Directors of Commerzbank.

Engels is succeeding Eric Strutz, who, as already reported in August 2011, is leaving the bank at his own request. Strutz has been active for Commerzbank in leading positions for over a decade, and since 2004 as a member of the Board of Managing Directors. "On behalf of all the members of the Supervisory Board I would once again like to thank Eric Strutz for his excellent work, and wish him all the very best for the future and every success," said Klaus-Peter Müller.

Stephan Engels is married and the father of two children. Born in Hamburg he studied economic sciences at the Hochschule St. Gallen.


Press contact:
Armin Guhl + 49 69 13 642 764
Reiner Rossmann + 49 69 13 646 646


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About Commerzbank

Commerzbank is a leading bank for private and corporate customers in Germany. With the segments Private Customers, 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 more than 50 countries and serves more than 14 million private clients as well as 1 million business and corporate clients worldwide. In 2010, it posted gross revenues of EUR 12.7 billion with some 59,000 employees.

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