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Commerzbank has joined the ranks of other European banks that have been forced into adopting a litany of cost cutting measures amidst diving revenues and consecutive lackluster quarters. The lender is also slated to announce new personnel changes to its group, which includes moves at multiple rungs of the ladder, according to a Reuters report.
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The German lender has opted to elevate Stefan Schmittmann to the role of Supervisory Board Chairman – Mr. Schmittmann will step into the role after serving as Commerzbank’s Chief Risk Officer, ... (read more)