Commerzbank in Strategic Talks with UniCredit – CFO Orlopp to Take Over Leadership

Commerzbank is preparing to transfer the leadership of discussions with UniCredit to Chief Financial Officer Bettina Orlopp. This information comes from two individuals familiar with the matter who commented on the impending decision. UniCredit, which recently acquired a 9 percent stake in the German bank, has thereby signaled interest in a potential merger of the two financial institutions. The decision regarding Orlopp could be made as early as Tuesday, when Commerzbank’s Supervisory Board and management will discuss the company's future strategy and response to UniCredit's involvement during two-day meetings near Frankfurt. Although Commerzbank must enter the discussions, the bank’s management remains opposed to a takeover by the Italian financial institution, as one of the sources emphasized. However, it was noted that the decision is not yet final and adjustments are possible. Commerzbank declined to comment on the current developments. CEO Manfred Knof had announced his resignation by the end of 2025 just hours before UniCredit disclosed its stake, raising doubts about his ability to lead the negotiations optimally. With over 25,000 business customers, a nearly one-third share of German foreign trade payments, and more than 42,000 employees, Commerzbank plays a central role in the German economy, considered the industrial engine of Europe. Knof had dismissed acquisition overtures as recently as the beginning of this week.