Commerzbank today unveiled changes at its Supervisory Board. Nicholas Teller, Member of the Supervisory Board, is stepping down from his position on December 31, 2020.

Mr Teller joined Commerzbank as a trainee in 1982. After several management positions in Corporate Clients business in Germany and abroad, he was appointed as a Member of the Board of Managing Directors in 2003.

Andreas Schmitz, currently Chairman of the Supervisory Board at HSBC Trinkaus & Burkhardt AG and former President of the Association of German Banks (BdB), is to be appointed as his successor.

Hans-Jörg Vetter, Chairman of the Supervisory Board, commented:

‘Nicholas Teller has been part of Commerzbank for almost 40 years, and since May 2014 as a Member of the Supervisory Board. Even though the time we spent together on the Supervisory Board has been comparatively short, I would still like to extend my warmest thanks to him – also in the name of my predecessors – for his many years of commitment.’

‘I am delighted that we have been able to attract Andreas Schmitz as a well-established expert in the financial sector to our Supervisory Board,’ Mr Vetter added.

Andreas Schmitz is leaving the Supervisory Board of HSBC Trinkaus & Burkhardt AG at the end of the year.

There have been a number of changes at the top of Commerzbank over the past couple of months. In September, for instance, the Supervisory Board of Commerzbank unanimously appointed Manfred Knof as successor to Martin Zielke as Chairman of the Commerzbank Board of Managing Directors. Martin Zielke will remain Commerzbank’s CEO until December 31, 2020.