Commerzbank wants to become a leading provider of corporate banking in Switzerland. Now the head of this division has decided to join an M&A boutique.
Bernd Geisenberger, head of corporate banking at Commerzbank Switzerland has decided to join Proventis Partners, a mergers and acquisitions expert with offices in Germany and Switzerland. Geisenberger will become a partner and member of the board of directors, the company said in a statement today.
Growth Strategy
Geisenberger has years of experience in developing international markets and client relations. Proventis Partners has offices in Munich, Hamburg and Zurich. Hiring Geisenberger was in line with the company’s strategy for growth and international presence.
Through cooperations, Proventis also offers its services to clients in the U.S. and in the U.K.
Commerzbank Plans in Switzerland
At Commerzbank, Geisenberger was a member of the team that aims to develop the German bank into a leading partner for corporate clients in Switzerland, specializing in the business with small and medium-sized companies.
Commerzbank boosted its loans business to 7.7 billion Swiss francs last year and signed contracts with 270 new corporate customers. The Swiss unit however is not profitable yet and the bank hopes to achieve this within three to four years.
