(30 September 2020 – Europe) Commerzbank have purloined senior executive Manfred Knof from its rival Deutsche Bank. Knof will be leaving his role as head of Deutsche Bank’s retail business at the start of 2021, where he will begin his new role as CEO for Commerzbank.
The new leadership appointment will allow Commerzbank to move forward with their new strategic plan which was placed on hold until a new leader was found. Part of the bank’s new strategic plans will be to become more efficient by reducing branches and cutting international staff.
“Knof is an experienced and highly effective top manager who has proven himself in a wide range of tasks in the financial services industry” commented Commerzbank Chairman of Supervisory Board, Hans-Joerg Vetter.