Commerzbank is moving its mergers and acquisitions operations from the U.K. to focus on German clients, according to three people with knowledge of the matter.
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.
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 on Wednesday said it had suspended two foreign exchange traders under suspicion of having attempted to manipulate euro/zloty prices in regular trading.
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 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 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.
Former Bank of America Corp managing director Johnny Williams is joining UBS AG as vice chairman for the Americas, according to a memo obtained by Reuters.
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.
The Daily Mail reports that 31 year-old Aldous Voice, said to be an Associate Director in FX with a major City bank, was sentenced to four months in clink last week, after admitting endangering the safety of a helicopter by flashing a five million candle power lamp from his kitchen window.
Here's the latest on the 'Movers & Shakers' front.
Commerzbank Corporates & Markets has announced the hire of Christoph Thierolf as Head of its Mergers and Acquisitions business.
Commerzbank Corporates & Markets (C&M) has announced that it has hired David Tavadian as the new Head of Emerging Markets FIC Sales. Based in London, he will be reporting to Nikolaus Giesbert, Global Head of FIC Sales.
Commerzbank, the target of a U.S. probe into alleged sanctions violations, set aside an additional $549m for legal provisions and said it may need to repeat the exercise.
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.