German Bank's Takeover Talks Put CFO in Spotlight

Commerzbank may appoint CFO Bettina Orlopp to lead merger discussions with UniCredit, which recently acquired a 9% stake in the German bank. The potential takeover has garnered opposition from Commerzbank's management and trade unions, coinciding with significant political and economic ramifications for Germany.

Commerzbank is set to assign Chief Financial Officer Bettina Orlopp to lead discussions with UniCredit, after the Italian bank acquired a 9% stake in the German lender. Sources revealed the decision is expected next week when Commerzbank's supervisory board convenes.

While Commerzbank's management is required to engage in discussions due to shareholder obligations, there exists strong opposition against any takeover by UniCredit. The talks are planned around strategy and response to UniCredit's newfound interest.

Commerzbank's Chief Executive, Manfred Knof, is stepping down in 2025, raising questions about who will pilot any discussions with UniCredit. Trade unions have also voiced their concerns as Germany braces for possible economic and political impacts from the potential merger.

(With inputs from agencies.)