Bettina Orlopp is to replace Manfred Knof 'in the near future'. The news comes days after Italian bank UniCredit revealed it had increased its stake in Commerzbank from around 9% to 21%, subject to regulatory approval.

German lender Commerzbank appointed finance boss Bettina Orlopp as its new chief executive on Tuesday as UniCredit's move for the bank was given a hostile reception in Germany. Orlopp, 54, will replace Manfred Knof "in the near future,

The changes come as the German bank continues a battle with UniCredit over its future.

Bettina Orlopp will take over as chief executive officer of Germany's Commerzbank in the near future, the bank announced on Tuesday, making her one of the country's highest-profile bankers during a tumultuous time for its No.

Commerzbank AG appointed Bettina Orlopp to replace departing Chief Executive Officer Manfred Knof, as it contends with a possible takeover approach from rival UniCredit SpA.Most Read from BloombergEric Adams' Vanishing Promise to Fix NYC's 'Unfair' Property TaxesWaiting for the Miracle of Church-to-Housing DevelopmentUnlocking the Hidden Power of Zoning,

Inmitten des Übernahmekampfes um die Commerzbank rückt die bisherige Finanzchefin Bettina Orlopp zur Vorstandsvorsitzenden der Bank auf, als erste Frau in dieser Funktion überhaupt.

UniCredit will only pursue a deal with Commerzbank if it has broad shareholder support and the conditions are right, CEO Andrea Orcel said on Wednesday, adding he could also just liquidate his investment.

UniCredit on Monday said it’s reached an agreement to further increase its stake in Commerzbank as the German government increasingly attempts to ward off an Italian acquisition of its number-two bank.