Markus Beumer, who heads the Mittelstandsbank unit serving Germany's raft of medium-sized companies, is seen as a candidate to take the helm, but the bank is also expected to scout for outside candidates. The bank, Germany's second-largest by market value after Deutsche Bank, does not have a deputy CEO on its board. "Today, Commerzbank has a robust business model, excellent employees and managers, as well as a culture that is the envy of many companies," Blessing said on Sunday. Instead he has focused on corporate and retail banking. ![]() Under Blessing's direction, the bank, which finances more than a third of the country's exports, has cut costs and shrunk its balance sheet by exiting shipping and commercial property loans, among others.
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