Commerzbank to appoint new board members from Erste and Roland Berger – Handelsblatt By Reuters

© Reuters. FILE PHOTO: A Commerzbank logo is pictured before the bank’s annual news conference in Frankfurt, Germany, February 9, 2017. REUTERS/Ralph Orlowski/File Photo

FRANKFURT (Reuters) – Commerzbank (DE:) is planning to appoint Erste Group’s (VI:) Thomas Schaufler and Roland Berger’s Joerg Oliveri del Castillo-Schulz to its management board, Handelsblatt reported on Wednesday.

The German lender’s supervisory board is debating personnel issues at a meeting on Wednesday and is expected to make an announcement in the afternoon.

Handelsblatt, citing unnamed sources, said Schaufler would take over the retail banking division, while Oliveri del Castillo-Schulz would oversee IT.

Commerzbank, Erste Group and Roland Berger declined to immediately comment on the matter.

The bank, which is in the process of cutting 10,000 jobs, has been undergoing a major reshuffling of top management.

Manfred Knof took over as chief executive officer earlier this year.

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