Published by Global Banking & Finance Review®
Posted on October 14, 2025
1 min readLast updated: January 21, 2026
Add as preferred source on GoogleFormer Commerzbank CEO Manfred Knof supports the bank's independence amid UniCredit's merger interest. Current CEO Bettina Orlopp continues the standalone strategy.
FRANKFURT (Reuters) -The former chief executive of Commerzbank, Manfred Knof, wants the German lender to remain independent as Italy's UniCredit pushes for a tie-up, he told a German newspaper.
Knof was CEO of Commerzbank when UniCredit last year began to build up its large stake and press for talks, but he then made way for a successor, Bettina Orlopp, to take the helm as the bank pursued its standalone strategy.
"I'm keeping my fingers crossed for Commerzbank to remain independent. I put a lot of sweat and energy into restructuring the institution. What's more, I still have ties to the bank as a shareholder," Knof told Germany's Handelsblatt in an interview published on Tuesday.
Under Knof, Commerzbank went through a major downsizing, and the Italian bank's push for an ambitious tie-up has led to a another significant overhaul at Germany's second-largest lender.
UniCredit now has a 26% equity stake in Commerzbank and holds another 3% through derivatives.
UniCredit CEO Andrea Orcel has argued the benefits of a merger and said last month that he hoped Commerzbank "would see the light over time".
(Reporting by Tom SimsEditing by Madeline Chambers)
Equity refers to the ownership value in an asset or a company, representing the shareholders' stake after all liabilities have been deducted. It is often expressed as shares in a corporation.
Corporate governance is the system of rules, practices, and processes by which a company is directed and controlled. It involves balancing the interests of stakeholders, including shareholders, management, customers, and the community.
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