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Commerzbank names new CFO amid UniCredit approach

Summary by WTVB
FRANKFURT (Reuters) – Commerzbank on Thursday named Carsten Schmitt as its new chief financial officer, a crucial role at Germany’s No. 2 lender as it seeks to fend off an approach by Italy’s UniCredit for a tie-up. The job became vacant after the previous CFO, Bettina Orlopp, assumed the role of chief executive officer, a promotion that came as the bank’s board deemed her better placed to negotiate with UniCredit. Schmitt previously served …
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