Can­di­date hunt for Com­merzbank CEO

The Pak Banker - - FRONT PAGE -

Com­merzbank's search for a can­di­date to suc­ceed cur­rent Chief Ex­ec­u­tive Martin Bless­ing has nar­rowed, with two in­ter­nal can­di­dates favoured on the short­list, two sources fa­mil­iar with the sit­u­a­tion said on Fri­day.

The fo­cus is on 51-year old Markus Beumer, who leads Com­merzbank's flag­ship cor­po­rate lend­ing busi­ness with Ger­many's medium-sized "Mit­tel­stand" com­pa­nies, and Martin Zielke, 53, head of busi­ness with pri­vate cus­tomers, one of the sources said.

Com­merzbank Chair­man Klaus-Peter Mueller said last month he in­tended to find a re­place­ment for Bless­ing by the bank's an­nual share­holder meet­ing on April 30, adding that he had strong in­ter­nal and ex­ter­nal can­di­dates to hand.

Com­merzbank's su­per­vi­sory board is ex­pected to dis­cuss short­list can­di­dates at a meet­ing on Tues­day.

The bank de­clined to com­ment. Bless­ing an­nounced in Novem­ber his in­ten­tion to step down, say­ing 2016 was a good time to re­lin­quish the helm of Ger­many's se­cond-big­gest len­der. "I don't think there is a huge num­ber of can­di­dates with the ap­pro­pri­ate ex­pe­ri­ence for the dif­fi­cult job of lead­ing a mid-sized com­mer­cial bank," the per­son said.

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