- Commerzbank (OTCPK:CRZBF) names Manfred Knof, head of rival Deutsche Bank's private bank in Germany, as CEO, succeeding Martin Zielke, who remains CEO until the end of 2020.
- From Aug. 1, 2019 until its merger into Deutsche Bank AG in May 2020, Knof was chairman of DB Privat- und Firmenkunderbank AG and is currently head of Deutsche Bank's German private bank.
- Zielke had resigned in July as shareholder Cerberus Capital Management pressured the bank's management to take bold actions to reverse its underperformance.
- In 2019, Commerzbank and Deutsche Bank entered merger talks as both German lenders struggled to bolster performance in a negative interest rate environment. Those talks fell apart in April of 2019.
- See Commerzbank and Deutsche Bank's negative revenue growth over the past three years:
Commerzbank names Deutsche Bank's Knof as CEO
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About CRZBF Stock
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| Symbol | Last Price | % Chg |
|---|---|---|
| CRZBF | - | - |
| Commerzbank AG | ||