The new head of Commerzbank, Bettina Orlopp, campaigned for the bank’s independence when she took office. The strategy is based on the “independence of the bank,” she said in a video message to her employees. “The entire management team and I are convinced of this strategy and we will do everything we can to promote this strategy and the further development of our bank.” To achieve this, everyone at Commerzbank would have to work together as a team.
The bank is currently being courted by Italian competitor UniCredit. He may have wanted to expand his influence against the will of her team. “We are working hard with a strong team of experts on the question of how we will deal with UniCredit today and in the future,” said Orlopp. The current uncertainty is putting a strain on many employees. Italy’s second largest bank UniCredit says it has secured access to up to 21 percent of the shares in Commerzbank via financial derivatives.
However, Commerzbank, its employees, the ver.di union and the federal government are skeptical about a takeover by UniCredit. The federal government currently still holds twelve percent of the bank and has stopped further sales.
Orlopp succeeded Manfred Knof at the helm of Commerzbank, who left the bank prematurely. Commerzbank expects Orlopp to gain more clout in the struggle for the future of Germany’s second-largest listed bank.
The new head of Commerzbank, Bettina Orlopp, campaigned for the bank’s independence when she took office. The strategy is based on the “independence of the bank,” she said in a video message to her employees. “The entire management team and I are convinced of this strategy and we will do everything we can to promote this strategy and the further development of our bank.” To achieve this, everyone at Commerzbank would have to work together as a team.
The bank is currently being courted by Italian competitor UniCredit. He may have wanted to expand his influence against the will of her team. “We are working hard with a strong team of experts on the question of how we will deal with UniCredit today and in the future,” said Orlopp. The current uncertainty is putting a strain on many employees. Italy’s second largest bank UniCredit says it has secured access to up to 21 percent of the shares in Commerzbank via financial derivatives.
