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Report: Commerzbank to name new CFO

Commerzbank AG is set to appoint board member Bettina Orlopp as its new CFO, Reuters reported, citing Frankfurter Allgemeine Zeitung.

The German newspaper, without citing sources, said Orlopp edged out fellow board member Jörg Hessenmüller for the position. Orlopp currently serves as the German lender's head of human resources, legal and group compliance.

Earlier in September, Commerzbank said Stephan Engels opted not to renew his contract as CFO, which expires April 2020. Engels is set to take the same role at Danske Bank A/S after his contract with Commerzbank expires.