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Commerzbank names Martin Zielke CEO from May 1

Reuters

FRANKFURT (Reuters) - Commerzbank has named retail banking head Martin Zielke as its next chief executive officer, taking over from current CEO Martin Blessing on May 1, Germany's second-biggest lender said on Sunday.

Commerzbank Chairman Klaus-Peter Mueller said he was confident Zielke, who is 53 years old and has worked at Commerzbank since 2002, was the right person to lead the bank as it sets fresh medium-term goals.

"His return of retail banking to a successful course has been impressive," Mueller said in a statement.

Commerzbank named Michael Mandel, 49, as a new board member to replace Zielke as head of retail banking. Bettina Orlopp, 45, who currently works on corporate strategy, would also join the board in a new position in charge of compliance, personnel and legal affairs.

(Reporting by Jonathan Gould Editing by Andreas Cremer and Mark Potter)