Michael Diederich, former head of Hypo-Vereinsbank, is being discussed as the new head of Commerzbank. According to reports, he wants to remain loyal to his employer, Deutsche Bank.
Unicredit boss Andrea Orcel is unable to steer the former HVB boss away from Deutsche Bank. For this purpose, the Berenberg Bank is recruiting a veteran from J.P. Morgan on and Flatex is led by a dual leadership.
Michael Diederich is not available as the new CEO of Commerzbank. The F.A.Z hears this. in financial circles. Deutsche Bank declined to comment on Friday. Diederich, previously CFO of the Bayern Munich football club, has been heading the business with companies and medium-sized businesses at Deutsche Bank since October 2025, together with Gerald Podobnik. He knows Unicredit boss Andrea Orcel from his time as CEO of Hypo-Vereinsbank from 2018 to 2023. HVB has been part of Unicredit since 2006 and is now to be merged with Commerzbank according to Unicredit's plan. Therefore, there has been speculation in the past few days that Orcel wants to install Diederich as Commerzbank boss as the successor to Bettina Orlopp, who he does not like. Apparently nothing will come of this.
After 28 years at J.P Morgan, including four years on the board until 2023, Gunnar directer is moving to the Hamburg-based Berenberg Bank to lead its investment banking as managing director. In June, Bafin relieved the three then managing directors Hendrik Riehmer, David Mortlock and Christian Kühn of their duties.
Christoph Benner, Martina Neske and Benedikt Kirsch, partners in the asset manager CHOM, are bringing their company into the Caplign asset management company. You will also become a shareholder in Caplign, which was founded in 2024 by the former DWS manager and Castell Bank board member Christian Hille and will be continued by him.
Ersen Ustaoglu, who has been with Deutsche Bank for seventeen years and is responsible for interest rate products for institutional customers, will be given additional responsibilities. An internal report states: Ustaoglu will be the new sales manager in the German-speaking region (“Head of Markets DACH”), succeeding David Feldmann, who moved to the fund company DWS.
Mark Klein, digital director of the insurer Ergo since 2016, will be leaving at the end of 2026. As Klein writes on Linkedin, he sees “my job as done” at Ergo. Ergo is now creating a new board department for artificial intelligence, which Guy Goldstein will take on in addition to his role as CEO of Ergo Next in the USA.
Fabian Brügmann is the new CFO of Scalable Capital. The former Creditshelf CFO succeeds Martin Krebs.
Ketty Camuffo will be promoted to division manager at DZ Bank from November 1st. According to an internal report, she is taking over the new “Client Lifecycle” area, in which customer identity checks (KYC, Know Your Customer) are used to prevent money laundering and terrorist financing.
Verena Dierks, who came to the Apotheker- und Ärztebank from Bankhaus Lampe in 2024, has now been appointed to the board. There the auditor takes over the finance department.
Thomas Hirsch, President of the Rhineland-Palatinate Savings Bank Association, was elected as the new Chairman of the Supervisory Board of the insurer Provinzial Holding AG. Hirsch succeeds Michael Breuer. The president of the Rhenish Savings Bank Association was chairman of the supervisory board for six years.
Benon Janos, previously CFO and deputy CEO, has been appointed CEO with immediate effect. The online broker Flatex announced this on September 25th. The new CFO will be Thomas Lindner, who has worked for Flatex since 2012. Janos, who has worked for Flatex since 2016 and previously worked for Goldman Sachs, now forms dual leadership with the previous sole CEO Oliver Behrens.
