Commerzbank appoints new board members for IT and private customers

Dhe Commerzbank appoints a new head for the private customer department and changes its IT director. Thomas Schaufler, who is currently still working at the Austrian Erste Group, should become the new head of private customers, the “Handelsblatt” reported on Wednesday, citing several people familiar with the subject. Jörg Oliveri del Castillo-Schulz from the consulting company Roland Berger will be the successor to IT director Jörg Hessenmüller. The Bloomberg news agency then reported on the two personal details.

The Commerzbank supervisory board is currently supposed to discuss the appointment of two new board members. Commerzbank, Erste Group and Roland Berger declined to comment on the report. Hessenmüller had come under pressure in connection with the outsourcing of securities processing, which had meanwhile been stopped because of excessive costs. The manager was promoted to the board of Commerzbank at the beginning of 2019, his contract was only extended by five years in June.

Sabine Schmittroth, Head of Human Resources, had recently taken care of the retail sector, i.e. business with private customers, on a temporary basis. In June Commerzbank decided that the 56-year-old should focus on HR issues again.

The Frankfurt money house is currently in the middle of a renovation and is cutting around 10,000 jobs across the group. Every third job in Germany is affected. Most recently there had been repeated changes in top management. The new CEO, Manfred Knof, took office at the beginning of January. He wants to put the partly nationalized bank back on the road to success.

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