Commerzbank to outsource equities business to ODDO BHF

Commerzbank swings to Q1 net profit, beating expectations - Copyright (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html

Copyright (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html

By Reuters

Published on 11/05/2021 - 15:30•Updated 23/04/2024 - 08:51

FRANKFURT (Reuters) - Commerzbank will outsource its equities trading and research business to ODDO BHF, ODDO said on Tuesday.

The move is a small part of Commerzbank's broader push to trim staff by 10,000 people. []

Commerzbank hopes the revamp will revive its fortunes as a standalone bank as it tries to turn a new leaf after management reshuffles and strategy flip-flops.

(Reporting by Tom Sims; Editing by Riham Alkousaa)

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