Finance
Commerzbank CEO surprised by meeting of her ex-boss with UniCredit CEO
Published by Global Banking and Finance Review
Posted on November 6, 2025
Last updated: January 10, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on November 6, 2025
Last updated: January 10, 2026
FRANKFURT (Reuters) -Commerzbank's CEO Bettina Orlopp said on Thursday that she was "incredibly surprised" by news of a 2024 meeting between then-CEO Manfred Knof and his counterpart at UniCredit, Andrea Orcel.
Speaking to journalists, Orlopp, who was finance chief at that time, said that she had learned about the meeting through the news media.
Reuters and other news organizations reported last month that Commerzbank's supervisory board is investigating whether Knof violated his duties by secretly meeting UniCredit's CEO and not reporting it.
Knof has said that Orcel tagged along with a banker he was meeting "without consulting me".
(Reporting by Tom Sims and Alexander Huebner)
Corporate governance refers to the systems, principles, and processes by which a company is directed and controlled, ensuring accountability and transparency in its operations.
An investigation in a corporate context involves examining potential misconduct or violations of policies by employees or executives, often conducted by internal or external parties.
A supervisory board is a group of individuals elected to oversee the activities of a company, ensuring that the management acts in the best interests of shareholders and stakeholders.
A meeting in a corporate setting is a gathering of individuals to discuss and make decisions on various business matters, typically involving management, employees, or stakeholders.
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