Commerzbank has announced the strengthening of the Board of Managing Directors. Thomas Schaufler, currently Board Member for Retail Banking at Erste Group Bank AG in Austria, will take responsibility for Private and Small-Business Customers at Commerzbank on 1 January 2022. Currently, Sabine Schmittroth is responsible for this segment. The appointment of Thomas Schaufler to the…
Frankfurt-based Commerzbank’s Chairman and Chief Executive Officer have recently stepped down from their offices, bowing to demands from top shareholder Cerberus that the German lender changes its strategy to stop a downward spiral in its financial performance. The resignations of Chief Executive Martin Zielke and supervisory board Chairman Stefan Schmittmann cap weeks of drama after…