Supervisory Board of Commerzbank: Nicholas Teller steps down from his mandate; Andreas Schmitz is to be appointed as his successor

• Nicholas Teller steps down on 31 December 2020
• Hans-Jörg Vetter: “I am delighted that we have been able to attract Andreas Schmitz as a well-established expert in the financial sector to our Supervisory Board.”

Nicholas Teller (61), Member of the Supervisory Board of Commerzbank, is stepping down from his position on 31 December 2020. Hans-Jörg Vetter: “Nicholas Teller has been part of Commerzbank for almost 40 years, and since May 2014 as a Member of the Supervisory Board. Even though the time we spent together on the Supervisory Board has been comparatively short, I would still like to extend my warmest thanks to him – also in the name of my predecessors – for his many years of commitment.”

Teller joined Commerzbank as a trainee in 1982. After several management positions in Corporate Clients business in Germany and abroad, he was appointed as a Member of the Board of Managing Directors in 2003.

Andreas Schmitz (60), currently Chairman of the Supervisory Board at HSBC Trinkaus & Burkhardt AG and former President of the Association of German Banks (BdB), is to be appointed as his successor. Vetter: “I am delighted that we have been able to attract Andreas Schmitz as a well-established expert in the financial sector to our Supervisory Board.” Andreas Schmitz is leaving the Supervisory Board of HSBC Trinkaus & Burkhardt AG at the end of the year.

Disclaimer

This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts. In this release, these statements concern inter alia the expected future business of Commerzbank, efficiency gains and expected synergies, expected growth prospects and other opportunities for an increase in value of Commerzbank as well as expected future financial results, restructuring costs and other financial developments and information. These forward-looking statements are based on the management’s current plans, expectations, estimates and projections. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such forward-looking statements. Such factors include the conditions in the financial markets in Germany, in Europe, in the USA and other regions from which Commerzbank derives a substantial portion of its revenues and in which Commerzbank holds a substantial portion of its assets, the development of asset prices and market volatility, especially due to the ongoing European debt crisis, potential defaults of borrowers or trading counterparties, the implementation of its strategic initiatives to improve its business model, the reliability of its risk management policies, procedures and methods, risks arising as a result of regulatory change and other risks. Forward-looking statements therefore speak only as of the date they are made. Commerzbank has no obligation to update or release any revisions to the forward-looking statements contained in this release to reflect events or circumstances after the date of this release.