Commerzbank Appoints Carsten Schmitt as New CFO

The move strengthens the leadership team as the bank resists a potential takeover by Italy's UniCredit.

Carsten Schmitt, formerly of Danske Bank and a long-time Commerzbank veteran, will assume the CFO role by spring 2025.
Schmitt's appointment allows CEO Bettina Orlopp to focus solely on leading the bank and countering UniCredit's acquisition efforts.
UniCredit has been seeking a tie-up with Commerzbank after acquiring a significant stake in the German lender in September.
Commerzbank plans to unveil a revised strategy in February 2025, with Schmitt expected to play a key role in its development.
The proposed merger faces opposition from Commerzbank leadership, employees, and German Chancellor Olaf Scholz, while some investors support exploring the deal.