Commerzbank AG appointed Bettina Orlopp CFO, effective by March 31, 2020, at the latest.
Orlopp — currently the German lender's head of compliance, human resources, legal and group customer process and data management — will replace Stephan Engels, who opted not to renew his contract when it expires in April 2020. Engels is moving to take the same role at Copenhagen-based Danske Bank A/S.
Sabine Schmittroth will succeed Orlopp as head of HR and group customer process and data management, effective Jan. 1, 2020. She will take on additional responsibility for compliance by March 31, 2020, at the latest. The legal department will then be headed by CEO Martin Zielke, according to the Sept. 26 statement.
Commerzbank recently drafted a new strategy, under which it will carry out thousands of job cuts, branch closures and an IT investment of more than €1 billion, among other things.
