Exclusive: Commerzbank poised to put CFO Orlopp in charge of talks with UniCredit
Commerzbank is set to appoint CFO Bettina Orlopp to lead discussions with UniCredit, following the Italian bank’s acquisition of a 9% stake in the German lender.
This move is expected to set the stage for potential merger talks, with the supervisory board meeting next week to finalize the decision.
Despite the discussions, Commerzbank’s management remains opposed to a takeover by UniCredit. CEO Manfred Knof, who is set to step down at the end of 2025, announced his resignation just before UniCredit disclosed its stake, raising concerns about his role in the negotiations.
The takeover interest from UniCredit, which first surfaced in 2017, has been met with resistance from trade unions and skepticism from Commerzbank’s management.
The discussions will explore the possibility of a merger, but challenges remain given the strategic and economic significance of Commerzbank.