Finances – FDP man Christ should go to Commerzbank – economy

finance:FDP man Christ should go to Commerzbank

From Reuters, Berlin/Frankfurt

According to insiders, the former FDP treasurer and long-time banker Harald Christ will move into the Commerzbank supervisory board in 2023. The Ministry of Finance wanted to send the 50-year-old there as a representative of the federal government, people familiar with the matter told the Reuters news agency. Of the mirror had previously reported. In the past, Christ has worked for the building society BHW, Deutsche Bank and the insurance company Ergo, among others. The long-time SPD member is well networked in politics. In 2020 he joined the FDP and was its federal treasurer until April 2022. The federal government is the largest shareholder of Commerzbank with 15.6 percent. The participation goes back to the rescue in the financial crisis in 2009. An exit did not succeed, also because it did not pay off financially for the federal government. Commerzbank is currently in the second phase of the restructuring, which should bring the institute back on course for profit. At the weekend it became known that the former President of the Bundesbank, Jens Weidmann, would be proposed for election to the Supervisory Board and would take over its chairmanship.

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