Michael Kotzbauer, the Deputy CEO of Commerzbank, is calling for the involvement of objective reason rather than emotion in the complex takeover negotiations between Unicredit and Commerzbank. He expressed confidence that Unicredit CEO Andrea Orcel is willing to engage in genuinely open discussions. According to statements made to the “Frankfurter Allgemeine Sonntagszeitung” (FAS), Kotzbauer believes that letting emotions dictate the process would be “destructive” and that “nobody wants that.”
The Commerzbank Vice CEO also challenged the notion that the bank has failed due to its defense strategies. He argued that analyzing key metrics-such as profits, capital strength, share price development, and both employee and customer satisfaction-clearly demonstrates that Commerzbank is currently the most successful it has been in recent years, making any talk of failure unfounded.
Kotzbauer stressed the need to avoid a protracted period of uncertainty that could harm both institutions. Furthermore, he criticized Unicredit’s proposed cost-cutting plans. He stated that the reported need for approximately 20 percent savings on annual costs through 2028 could not be achieved merely by scaling back international operations; it would necessitate severe cuts to the domestic business as well. More crucially, he insisted that any successful merger must focus on leveraging each bank’s unique strengths, pointing out that one of Commerzbank’s key assets is its capability to support German companies globally. Finally, Kotzbauer affirmed that Commerzbank owes a commitment to all its shareholders, not just to Unicredit.
