2023-06-20 17:28:49
Actually, the supervisory board of Commerzbank wanted to appoint the long-standing divisional director Rüdiger Rass as the new risk director at its meeting in December 2022. The FAZ reported on this in advance, but the ECB’s banking supervisory authority opposed it and has been examining its suitability ever since. It was certainly also examined whether Rass acted carefully enough when granting the large Commerzbank loan to the scandalous company Wirecard. As recently as last week, a high-ranking Commerzbank insider was very confident that Rass would ultimately pass this aptitude test. But now he has failed.
As Commerzbank announced on Tuesday afternoon, after talks with the banking supervisory authority, Rass has now decided in agreement with the board of directors and the supervisory board to no longer be available for the position of chief risk officer. This means that Commerzbank has to start the search for a new chief risk officer from the beginning.
In July 2022, acting Chief Risk Officer Marcus Chromik announced that his contract, which ran until the end of 2023, would not be extended. As a result, the supervisory board, still chaired by Helmut Gottschalk, began looking for a successor. Rass, who has been Head of Credit Risk Management for seven and a half years, was the first internal candidate to prevail in a selection process for a board position in years. Gottschalk’s successor, the former Bundesbank President Jens Weidmann, who was newly elected to the chairmanship of the Supervisory Board in May, also seems convinced of Rass.
Archibald Preuschat and Hanno Mußler Published/Updated: , Recommendations: 10 Hanno Mußler Published/Updated: , Recommendations: 7 Hanno Mußler Published/Updated: , Recommendations: 7
Now, however, the banking supervisory authorities have obviously asserted themselves with their concerns. At Commerzbank, it is asserted that it is not due to the Wirecard loan and not to Rass’ professional suitability. Weidmann was quoted as saying: “We respect Rüdiger Rass’ decision and are pleased that he will continue to be available to the bank.” From this it can be concluded that Rass, despite the failed entry into the Board of Management, will initially be a divisional director at Commerzbank want to continue.
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