The Banker quotes Victoria Younghusband on the appointment of Bettina Orlopp as Commerzbank's new CEO
Commerzbank’s appointment of Bettina Orlopp to be its next chief executive is another interesting development in UniCredit’s potential takeover of the German lender.
On Tuesday, Commerzbank announced that Orlopp would succeed Manfred Knof — who decided not to seek a second term as CEO at the beginning of September — “in the near future”.
Orlopp will take over the reins at a crucial time for European banking, with some arguing for deeper integration and cross-border mergers.
In reaction to the announcment, Victoria Younghusband, Partner in our Corporate team, is interviewed by The Banker and explains why Orlopp's appointment perhaps does not come as a complete surprise:
The bank obviously needed to appoint someone new, quickly, that knows the business. That seems to have been brought forward by what has happened with UniCredit. Also it is not unusual for a chief financial officer to be appointed CEO. This story is full of political intrigue in that we don’t know what really is going on.
Read the full article in The Banker here.
