COMMERZBANK AKTIENGESELLSCHAFT

4
Commerzbank AG
Management report of
Commerzbank
Aktiengesellschaft
Structure and organisation
Commerzbank Aktiengesellschaft is Germany’s second largest bank, one of its leading banks
for private and corporate customers and a major financial institution within Europe. Our customers
have around 1,200 branches at their disposal, one of the densest networks of any private-sector
bank in Germany. Commerzbank serves a total of around 15 million private customers
and 1 million business and corporate customers worldwide. Commerzbank aims to
continue strengthening its position as market leader in the private and corporate customer
segments in Germany.
The focus of our activities is on the four core segments Private Customers, Mittelstandsbank,
Corporates & Markets and Central & Eastern Europe, which are at the heart of Commerzbank.
Other segments that are not part of the core bank are Asset Based Finance and
Portfolio Restructuring Unit. Each of the segments is managed by a member of the Board of
Managing Directors.
All staff and management functions are contained in Group Management: Group Audit,
Group Communications, Group Compliance, Group Development & Strategy, Group Finance,
Group Finance Architecture, Group Human Resources, Group Investor Relations, Group Legal,
Group Treasury and central risk functions. The support functions are provided by Group
Services. These include Group Banking Operations, Group Markets Operations, Group Information
Technology, Group Organisation, Group Security and Group Support. The “Commerzbank
Excellence” programme has been set up under the joint leadership of Group Management
and Group Services. The responsibilities of the Board of Managing Directors are
also clearly defined for all these functional units. The staff, management and support functions
are combined in the Others and Consolidation division for external reporting purposes.
On the domestic market, Commerzbank Aktiengesellschaft manages a nationwide branch
network serving all customer groups from its headquarters in Frankfurt am Main. Its major
German subsidiaries are Eurohypo AG, comdirect bank AG, Commerz Real AG and Deutsche
Schiffsbank AG, which will be merged into Commerzbank in 2012. Outside of Germany, the
Bank has 8 significant subsidiaries, 25 operational foreign branches and 33 representative
offices in 51 countries and is represented in all major financial centres such as London, New
York, Tokyo, Hong Kong and Singapore. However, the focus of the Bank’s international activities
is in Europe.