Commerzbank is considering appealing against a Frankfurt court's ruling that the lender's move last year to revoke the management board status of former personnel chief Ulrich Sieber was invalid.
Commerzbank Corporates & Markets (C&M) is the integrated Corporate and Investment Banking division of Commerzbank AG, providing corporate and institutional clients with a comprehensive range of commercial and investment banking products.
Commerzbank must pay bonuses to 10 bankers in Singapore at its now-defunct Dresdner unit, who claimed the lender breached their contracts by refusing to pay, a judicial official ruled.
Commerzbank offices in Germany were raided by prosecutors investigating whether life insurance policies were used to evade tax.
Commerzbank, the bank that plans to cut 5,200 jobs by 2016, said two executives will leave its management board as part of the reductions.
Commerzbank posted a 15 percent rise in quarterly net profit as it set aside less cash to cover ailing loans held in its restructuring division, saying the strategic overhaul of the group was on track.
The chief executive of Commerzbank said Germany's second largest lender should not remain independent at all costs, a German newspaper reported.
BNP Paribas has ruled out big takeovers like Commerzbank as it builds its presence in specialised banking businesses in Germany over the next three years, the French lender's CEO said on Wednesday.
The urge to merge ?
Commerzbank, the German bank forced into an $24bn state bailout, said second-quarter profit slumped 84% as it set aside more cash for risky loans.
Commerzbank has reached an agreement with BNP Paribas on the sale of its 'Depotbank' business.
The Sunday Telegraph reports that Credit Suisse has told Managing Directors across the group, and directors and above over at its investment banking unit, that, under the terms of its new compensation scheme, it will be able to 'clawback' some, or all, of their cash bonuses should they leave or are fired (presumably with cause) within 2 years of the payout date.
Here's the latest on the 'Movers & Shakers' front.
The Wall Street Journal reports that Klaus-Peter Mueller, Commerzbank's CEO, has said that his firm is not in takeover or merger talks at present, mentioning that he had 'no knowledge (either) of other intstitutions' currently having takeover plans for us'.
As the season of goodwill approaches, investment banks and their like are bang in the middle of the subprime blues. So exactly how much, if anything, will they shell out for the annual staff Xmas piss-up ?
Martin Blessing is one of the most resilient bank chiefs in Europe. He has remained at the top of Commerzbank since 2008 even after an ill-fated takeover, a record loss and a writedown on Greek debt.
Commerzbank's third-quarter net profit tripled to 225 million euros as earnings in its retail and corporate banking units rose and costs for bad loans fell, in a sign that the bank's turnaround plan was gaining traction.
Commerzbank Corporates & Markets has announced it has hired Andrew Readinger as Global Head of Financial Institution Sales and promoted Thomas Deppe to Global Head of Corporate Sales.
The Times has a cracking story about Commerzbank.
The News of the World reports that 22-year-old 'serial gambler' Elliott Short, who was fired from his job in the City where he was training to be a trader, has won over $33m betting on horses over the last year.
Commerzbank must pay $65m to 104 bankers at its now-defunct Dresdner unit after a U.K. appeals court refused to overturn a judge’s decision that the German lender must honor its promises on bonuses.
An ex-Commerzbank director won her employment tribunal case against the German lender for firing her when it discovered she was suing her previous employer, Deutsche Bank, for sexual discrimination.
Commerzbank, Germany’s second- biggest bank, will cut 4,000 to 6,000 jobs over the next four years to reduce costs and meet a profit goal.