Commerzbank has joined its three German fund management businesses together to form Commerz Asset Management with assets of €80bn ($74.2bn) under management.

Commerz Asset Management will have Wolfgang Plum as its chief investment officer. Plum has 31 years' fund management experience and was managing director of one of the three businesses that have been combined. The chief operating officer is Alfred Schorno, who was formerly Commerzbank's global head of foreign exchange.