Commerzbank’s fund company is one of its few growth drivers. But the parent company tightened controls on Commerz Real and its new CEO, Henning Koch.
GAbriele Volz, who only took up the position of CEO of Commerz Real AG at the beginning of January and who had gotten to grips with the 730 employees, is leaving this position in the Commerzbank fund company at the end of April. The reason for the surprising separation is given in a press release as “different views on the management and future strategic direction” of Commerz Real. According to reports, it “did not fit” between Volz and the parent company Commerzbank as well as on the board of Commerz Real itself. The supervisory board has already arranged her succession.
Knof becomes a member of the supervisory board
The supervisory body appointed the 43-year-old Henning Koch, who has been responsible for transactions and asset management on the Board of Management since April 2020, as the new Chairman of the Board of Management from May 1, 2021. Koch came to Commerz Real in Wiesbaden from Credit Suisse in 2017. The fund and leasing company, known for its real estate fund Hausinvest, is one of the few growth areas in the Commerzbank Group. The 730 employees will be spared the downsizing, while at Commerzbank AG and the former Comdirect one in three (9,000 of 25,000) positions will be lost by 2024. At the same time, Commerzbank seems to be tightening its controls. The new Commerzbank CEO Manfred Knof was just elected to the Commerz Real Supervisory Board.
It has been restless at Commerz Real since Andreas Muschter surprisingly switched to a fintech in April 2020 after seven years as CEO and four years as CFO. Johannes Anschott, who took over the chairmanship on an interim basis, has meanwhile moved to Bayern LB. With Volz, who joined the HVB fund company Wealthcap in January, things seemed to be steady. But at the end of January, Sandra Scholz, who has been on the board since 2017, left Commerz Real without much farewell words. Now Volz is walking too – surprisingly quickly.