It is with regret that Commerzbank’s Supervisory Board has today agreed to Markus Beumer’s request to release him from his contract, which runs to 31 December 2020, as the member of the Board of Managing Directors of Commerzbank responsible for the Mittelstandsbank segment with effect from 31 October 2016.

“Over the last nine years, as a board member, Markus Beumer has played an instrumental role in helping to further enhance Commerzbank's profile as a leading corporate bank in Germany and Europe. I would like to thank him on behalf of the entire Supervisory Board for his great dedication and valuable work and wish him all the best and every success in the future”, said Klaus-Peter Müller, Chairman of the Supervisory Board of Commerzbank.

Martin Zielke, Chairman of the Board of Managing Directors of Commerzbank: “Markus Beumer has vigorously defended Commerzbank’s leading position as a partner to German Corporates and SMEs amid increasing competition and driven it forward with new ideas. This is borne out, not least, by our success in foreign trade financing, where we are the number one in Germany with a more than 30 percent share of the market for German export financing. I would like to thank him for the good and close cooperation and wish him all the best for the future.”

Markus Beumer, board member for the Mittelstandsbank segment, said: “This was not an easy decision for me. But after eleven years in corporate banking at Commerzbank I would like to take on a new challenge. The necessary reorganization of the corporate clients division which has just been decided on will take years and will require continuity. So it was clear to me that now is the right time to start something new. I wish my fellow board members and the whole Commerzbank team all the best for the future.”

Markus Beumer, 52, has been a member of the Board of Managing Directors of Commerzbank since 1 January 2008. Prior to that he was in charge of corporate banking at the Frankfurt regional branch and from 2006 the group-wide head of Corporate Banking. He started his career in 1991 as a trainee at Deutsche Bank in Essen.

Michael Reuther will take on the management of the corporate clients division.