Knof Manfred (Manfred Knof)

Knof Manfred (Manfred Knof)

Biography

2020: Position assignment of the CEO of Commerzbank

At the end of September, 2020 it became known that Manfred Knof will become the new CEO of Commerzbank. Before he headed the German retail bank Deutsche Bank.

55-year-old Manfred Knof will release Martin Tsilke from a post of the head of Commerzbank at the beginning of 2021. This appointment will put an end to the long period of uncertainty of the management of Commerzbank as in July, 2020 it became known of resignation of the chairman of the board of bank Stefan Shmittman and the CEO Martin Tsilke.

Manfred Knof - the experienced and very effective top manager who proved in a broad spectrum of tasks in the field of financial services, - the chairman of the supervisory board of Commerzbank Hans-Jörg Vetter told. - It has the necessary experience and leadership skills necessary for solving of tasks, facing bank.

According to a source, Commerzbank works on new strategy which assumes closing to 800 retail bank departments, reduction of foreign presence of Commerzbank and also staff reduction. Knof's appointment to a position of the CEO of Commerzbank means that the bank will be able soon to start implementation of new strategy.

Manfred Knof joined Deutsche Bank in 2019 after more than two decades of career in the largest insurance group Allianz of Germany where it managed to prove as "the ruthless manager" who is capable not to pay attention to weakness of labor unions and aims to achieve results.

Scrap is its most favourite tool, - one of his colleagues from Allianz so commented on Knof's joining to Deutsche Bank.

I with great respect treat this new appointment, – Knof noted and paid attention that the credit institution is of "great importance for economy of Germany".[1][2]

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