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Commerzbank names Orlopp CEO as UniCredit circles

The German lender has unveiled a new executive team as UniCredit has amassed a 21% stake

Andrea Orcel, chief executive of UniCredit, is looking to orchestrate a takeover of Commerzbank
Andrea Orcel, chief executive of UniCredit, is looking to orchestrate a takeover of Commerzbank Photo: Alessia Pierdomenico/Bloomberg via Getty Images

Commerzbank has elevated its chief financial officer into the top job as the German lender battles a possible takeover by UniCredit.

The German bank has named Bettina Orlopp as chief executive, it said in a statement on 24 September, as UniCredit boss Andrea Orcel looks to orchestrate what would be one of the first major European bank takeovers for decades.

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