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Cerberus vows to work with Commerzbank chair despite concerns - source

Credit: REUTERS/Ralph Orlowski

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.

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;))

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