At a Glance
"Friendly people and insignificant ego"
"Working with interesting clients"
"Support services lacking"
"Poor management at the top of wealth management"
"Strong domestic and regional name"
"Not a major player"
"Good people—friendly and professional"
"Putting two fifth-tier banks together is not going to create a better bank"
Bright lights, big cities
Throughout its 145-year history, the German bank Commerzbank has moved its headquarters three times. It relocated from its founding city of Hamburg to Berlin just after the beginning of the 20th century, moved from Berlin to Dusseldorf just after World War II, and officially made its home in Frankfurt in 1970. Today, Commerzbank has a presence in 50 countries around the world, employing approximately 52,000 people. The bank has 15 million private customers as well as one million corporate customers. Commerzbank's business structure is divided into four main units: private customers, corporates and markets, Mittlesbank, and Central and Eastern Europe. The services offered by the corporates and markets division include capital markets, equity and debt financing, trading, hedging, research, and financial advisory. The unit's major offices are in located in Frankfurt, London, New York, Hong Kong, and Singapore.
Commerzbank's history dates back to 1870 when Commerz- and Disconto-Bank was founded in Hamburg by a group of merchants and merchant and private bankers. By the time the 20th century arrived, the bank's business was heavily focused on Berlin, and the bank relocated its headquarters there in 1905, having established itself as one of the country's top banks. Over the next four decades, the bank grew through a series of mergers and acquisitions. After the post-WWII division of Europe, Commerzbank lost an estimated 45 per cent of its business premises. West Germany's biggest banks were decentralised, creating three separate regional banks, which were not united again until 1958 under the name of "Commerzbank Aktiengesellshaft" (headquartered in Dusseldorf). Commerzbank's growth and expansion continued rapidly thereafter, and in 1970, the banks headquarters relocated (again) to the nation's financial capital of Frankfurt am Main.
After the fall of the Berlin Wall, Commerzbank opened offices again in what was still being called East Berlin; by the first anniversary of the fall of the Berlin Wall, Commerzbank had 50 locations in the former East Germany (German Democratic Republic). Throughout the 1990s, European expansion continued, including stock listings in Madrid and Milan. Asian expansion also kicked off, with offices opening in Indonesia, Malaysia, and China. In addition to Western Europe, the bank expanded in Eastern Europe, the United States, and North Africa. By 2001, the bank had six million customers and, during the year, had opened a new trading centre in Frankfurt. In 2005, the bank famously took over rival German bank Eurohypo AG, Eschborn, becoming the second-largest lender in Germany, with more than eight million customers. Three years later, the firm went big again, agreeing to acquire German banking giant Dresdner Bank from Allianz for €9.8 billion.
Employer Type: Public
Stock Symbol: CBK
Stock Exchange: FWB
Chairman: Martin Blessing
2014 Employees (All Locations): 51,782