DGAP-UK Regulatory Service: Commerzbank AG / Change of Personnel
Commerzbank AG:
19.05.2011 / 20:35
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Commerzbank Board of Managing Directors:
- Achim Kassow moves to Oldenburgische Landesbank
- Ulrich Sieber assumes responsibility for the Central & Eastern European
business
At its meeting on May 19, 2011 the Supervisory Board of Commerzbank met
with the wish of Achim Kassow, 44, to be released from his mandate as a
member of the Board of Managing Directors with effect from July 12, 2011.
Ulrich Sieber, 45, is taking over the segment Central & Eastern Europe
(CEE) in addition to his current responsibilities for Human Resources and
Integration.
Achim Kassow is leaving the bank at his own request to assume the function
of Chief Executive Officer at Oldenburgische Landesbank, which is part of
the Allianz Group. Oldenburgische Landesbank is the largest private
regional bank in Germany, and through its Allianz Bank branch offers
banking services for customers and representatives of Allianz in Germany.
Kassow has been a Member of the Board of Managing Directors of Commerzbank
since November 2004; during his seven years with the bank he has been
responsible for the segments Asset Management, Private Customers and
Central & Eastern Europe (CEE). Prior to this he was the Chairman of the
Board of Managing Directors of comdirect for two years. Klaus-Peter Müller,
Chairman of the Supervisory Board, says: 'Achim Kassow has made a major
contribution to the success of the bank. He was responsible for the
strategic disinvestments in Asset Management, has clearly expanded our
market position in the Private Customers business, and attained the
turnaround with our business in Central & Eastern Europe. We regret that
Achim Kassow is leaving the bank. I would like to thank him - also on
behalf of his fellow Members of the Board of Managing Directors - for his
great commitment and I wish him all the very best in his new position.'
Ulrich Sieber, a graduate in banking management, has been Member of the
Board of Managing Directors since June 1, 2009 and is responsible for the
areas Human Resources and Integration. Before Sieber became the head of
Human Resources at Commerzbank in 2006, he had held a number of management
positions at Dresdner Bank, J.P. Morgan and Credit Suisse over a period of
several years. Ulrich Sieber was, among other things, the head of the
Corporate Banking sector at Dresdner Bank. Martin Blessing, Chairman of the
Board of Managing Directors of Commerzbank: 'The responsibility for the CEE
business is being assumed by Ulrich Sieber, an experienced and expert
Member of the Board of Managing Directors, who has already demonstrated his
competence in a number of challenging situations.'
*****
Press contact:
Armin Guhl + 49 69 136 42764
Reiner Rossmann + 49 69 136 46646
*****
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 above 60 sites in
more than 50 countries and serves more than 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.
*****
Disclaimer
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.
Contact:
Commerzbank AG
Group Communications
Tel.: +49 69 136 - 22830
mediarelations@commerzbank.com
End of UK-Regulatory news
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19.05.2011 DGAP's Distribution Services include Regulatory
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Language: English
Company: Commerzbank AG
Kaiserplatz
60261 Frankfurt am Main
Deutschland
Phone: +49 (069) 136 20
Fax: -
E-mail: ir@commerzbank.com
Internet: www.commerzbank.de
ISIN: DE0008032004
WKN: 803200
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt
(Prime Standard), Hamburg, Hannover, München, SIX,
Stuttgart; Terminbörse EUREX; London
Category Code: MSC
LSE Ticker: CZB
Sequence Number: 816
Time of Receipt: May 19, 2011 20:30:31
End of News DGAP News-Service
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125552 19.05.2011
DGAP-UK-Regulatory: Commerzbank AG:
| Source: EQS Group AG