Commerzbank Asset Management plans to concentrate its activities on Germany and other selected European core markets. The resources resulting from the cost synergies and improved efficiency will be invested to build up its marketing and sales activities, helping to boost its market share. In Germany, all asset management activities will be united under the new COMINVEST Asset Management GmbH. As of September 30, COMINVEST, based in Frankfurt am Main, officially opened for business.
COMINVEST officially unites the retail fund subsidiary ADIG Allgemeine Deutsche Investment-Gesellschaft mbH, the corporate funds subsidiary Commerzbank Investment Management GmbH (Commerzinvest), and Commerz Asset Managers GmbH (CAM) together as one portfolio management and research unit. The integration of the retail and corporate businesses will lead to more customer orientation by linking their know-how and service. “This new orientation will help to decisively strengthen Asset Management within the Commerzbank,†said Dr. Friedrich Schmitz, Global Head of Asset Management. He added: “ADIG remains our core brand for retail clients.â€
Four key managers will lead COMINVEST Asset Management GmbH. Wolfgang Plum is responsible for portfolio management as Chief Investment Officer; Dr. Volker Doberanzke serves as Chief Operating Officer; Hans-Jürgen Löckener is responsible for retail customers; and Claus Weltermann is responsible for institutional customers.
Commerzbank Asset Management, with COMINVEST as its core, now has 103 billion euros under management. Its primary goal following this restructuring is to use the resulting synergy effects to become leaner, more efficient and therefore more profitable. Paring down its fund offering and opening new business areas will at the same time provide the basis for profitable growth.
(source: Commerzbank)
