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Commerzbank to outsource equities business to ODDO BHF

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

FRANKFURT (Reuters) – Commerzbank will outsource its equities trading and research business to ODDOBHF, 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)