27.11.2000 - comdirect establishes investment banking division
comdirect establishes investment banking division - Supervisory Board appoints fourth member to the Board of Managing Directors to lead the sector (27.11.2000)
Quickborn, Germany, 27 November 2000. comdirect bank AG (WKN 542 800) today announced that it will establish aninvestment banking business division. The SupervisoryBoard of the online broking company has approved of thismeasure. Dr. Andre Carls, who has been appointed as thefourth member to the company's Board of ManagingDirectors, will be responsible for developing andmanaging the new division. Dr. Carls's appointment to theBoard of Managing Directors is scheduled to becomeeffective as soon as the Federal Banking SupervisoryOffice has decided that Dr. Carls fulfils therequirements for working as an executive bank manager.
By entering the field of investment banking, comdirectwill in particular be able to strengthen its position inthe IPO sector. In doing so, comdirect will leverage itsplacement power as Europe's largest online broker andexpand its activities as a selling group member and,ultimately, also act as an underwriter of IPOs.
By setting up the new business division, comdirect aimsto improve customer retention in its core business ofdirect brokerage and to tap new earnings potentials byrealising additional commission income. The developmentof the investment banking division will commence on 1December 2000, the date on which Dr. Andre Carls willstart working for comdirect bank AG.
Dr. Andre Carls was born in Krefeld, Germany, in 1963 andhas been with Commerzbank AG since 1990. During thistime, he has primarily worked in the bank's Syndicatedloans and new issues, in the business fields CorporateFinance and Global Equities. From 1998 to 2000, Dr. AndreCarls was involved in setting up the investment bankingdepartment at the London branch office of Commerzbank.
comdirect bank AG
Investor Relations Manager
Tel.: ++49 / 4106 / 7041966