Cerberus vows to work with Commerzbank chair despite concerns - source

Credit: REUTERS/Ralph Orlowski

FRANKFURT, Aug 4 (Reuters) - Cerberus, seeking to move on from a defeat over the naming of a new chairman at Commerzbank, "acknowledges the reality" and will work with him, a person close to Cerberus said on Tuesday.

Commerzbank CBKG.DE ignored the concerns of Cerberus, a top investor, on Monday by electing Hans-Joerg Vetter, the retired chief of a German regional bank, as its new chairman.

Cerberus is "looking forward to working with Vetter and the rest of the board to get a good result for Commerzbank", said the person.

(Reporting by Tom Sims Editing by Sabine Wollrab and Michelle Martin)

((Tom.Sims@thomsonreuters.com; +49 69 7565 1242;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.