Review of designated Commerzbank risk chief is dragging on

Frankfurt Commerzbank is caught up in the Wirecard scandal when it plans to appoint a new board member. According to financial circles, the institute would like to appoint divisional director Rüdiger Rass as the new head of risk. In 2024 he is to succeed Marcus Chromik, who is leaving the institute at the end of next year.

The appointment of Rass, which was actually planned for December, has been delayed because the review process by the ECB banking supervision is still ongoing, several people familiar with the topic told the Handelsblatt. One of the reasons for this is that the ECB wants to investigate the role that Rass played in the credit relationship between Commerzbank and Wirecard.

Commerzbank and the ECB declined to comment on the subject. The financial supervisory authority examines management and supervisory boards as part of a so-called “fit and proper” test and must give the green light before they start their job.