German Finance Minister Wolfgang Schaeuble has spoken to the chairman of UBS about the possibility of the bank buying the government's remaining stake in Commerzbank.
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, the biggest loser on Germany’s benchmark DAX Index this year, has recently steepened its decline because of unfounded speculation about risks in its shipping portfolio, said Chief Financial Officer Stephan Engels.
In 'Company News', Bloomberg's Mark Barton reports on the top business stories of the day.
As part of the strategic agenda announced in November 2012, the Commerzbank will cut a total of 5,200 full-time equivalents by 2016.
Not good if you work there.
Now you have it, now you don't.
Commerzbank has said it won’t appeal a U.K. court ruling that paves the way for 104 bankers to recover $66m in bonuses after four years of legal skirmishing.
HSBC has said first-quarter profit almost doubled, beating analyst estimates, as bad debts declined and it cut costs.
The Court of Appeal ruling on a dispute between 104 London-based bankers and Dresdner Kleinwort (now part of Commerzbank) over a guaranteed minimum bonus pool of $521m has been handed down, says GQ Employment Law, the specialist employment law firm.
Commerzbank Corporates & Markets has announced the hire of Christoph Thierolf as Head of its Mergers and Acquisitions business.
One of our team just tried to call up a contact at HSBC Investment Bank. Using the switchboard (as usual) proved a disaster. He hung up twice because he was was fed up waiting for the phone to be answered, but managed to get through on the 19th ring on the third occasion.
Here's the latest on the 'Movers & Shakers' front.
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.
Here's a few links to some interesting Bloomberg, CNBC, New York Times and Reuters stories currently doing the rounds.
And who says that investment banks just don't care about their staff ?
Commerzbank has had a torrid time of it in the last few years. A record annual loss in 2003, followed by the shake up of its investment banking unit a year later. The unit significantly shrunk its London presence, closed its prop trading desks, cut back in New York, and pulled out of Toyko. Some staff were even said to have been canned over a internal TV hook-up! Commerzbank became known as the 'comedy bank' to staff and outsiders alike. But very few are laughing now.
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.
A couple of years back, we undertook a poll of our readers to find out what they thought were the worst bank mergers of all time.
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.
Here's a few links to some interesting Bloomberg, Independent, Reuters and Telegraph stories currently doing the rounds.
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.