Commerzbank supervisory board chairman Hans-Jörg Vetter and finance state secretary Jörg Kukies have done a good job. The month-long search for a new CEO for Commerzbank has paid off. Investors welcomed the appointment of the Commerzbank CEO by Manfred Knof, head of the nationwide private customer business of Deutsche Bank, with a price jump on Monday. Shares in the institute gained 5.6%.
Internally, however, the decision remains controversial. Many had relied on the former ING-Diba boss Roland Boekhout, who is a proven expert in the digital business and whose biography is not linked to the tradition of the branch bank. The new CEO is needed not only as a financial expert, but also as a bridge builder.
When was the last time you heard the words “good job” and “bank” in the same sentence?