Germany’s second-largest lender Commerzbank AG said Friday that its chief executive and chairman have submitted their resignations, as the bank faces pressure from shareholder Cerberus Capital Management for a deep overhaul due to persistent poor performance.
“Even if we made strategic progress, the financial performance of the bank has been and is unsatisfactory,” CEO Martin Zielke said in a statement. “And as CEO I bear the responsibility for that.”
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In short this bank Is out....
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