Andreas D. Schwung named the new president-CEO of Commerzbank Zrt., Hungary (x)

Andreas D. Schwung (57) has been named the new president-CEO of the Board of Commerzbank Zrt. in Budapest, Hungary as of 14 January 2020. He will continue to expand the bank’s activities focusing on corporate clients in Hungary. The new president-CEO replaces Klaus Windheuser (49) who leaves the Group of his own accord after over 30 years.

Schwung has many years of experience and has broad expertise across Commerzbank’s  corporate banking.  Joining the Bank in 1982, he has filled diverse corporate banking positions in Germany and New York, Moscow, Shanghai and Tokyo, and has recently held the role of Country-CEO of Commerzbank AG Iberia in Madrid with responsibility for Spain and Portugal.

“I am very glad to have engaged Andreas a colleague with extensive knowledge in corporate banking for our Hungarian subsidiary. We are pleased that we can continue the growth trajectory of Hungary together. We wish him every success and a positive start” said Sven Gohlke, Regional Board Member of Commerzbank for Central and Northern Europe and Chairman of the Supervisory Board.

Schwung was born in Emmerich, Germany. He obtained a degree in banking business management (BA). He is married and has three children.

His predecessor, Windheuser is moving to be a board member with responsibility for corporate clients and treasury business at Sparkasse Bremen.

“Klaus Windheuser has shown outstanding engagement and has been highly successful in his work in various positions within the Commerzbank Group. He has been a driver of the outstanding development of Commerzbank Zrt. in recent years. I wish him all the best in the next stage of his career.” said Sven Gohlke.

About Commerzbank Zrt.

Commerzbank has been present in Hungary since 1993. In addition to its head office in Budapest, the bank is present in three towns around the country: Győr, Kecskemét and Miskolc. All corporate business services of Commerzbank are available to its customers at the above locations: corporate financing, structured financing, the whole range of cash management, location specific cash management services, structured export and trade financing, foreign exchange, interest and commodity risk hedging, deposit transactions, and foreign exchange and money market trade.

About Commerzbank

Commerzbank is a leading international commercial bank with branches and offices in nearly 50 countries. The Bank’s two business segments – Private and Corporate Clients – offer a comprehensive portfolio of financial services precisely tailored to their customers’ needs. Commerzbank transacts approximately 30% of Germany's foreign trade and is the market leader in German corporate banking. The Bank offers its sector expertise to its corporate clients in Germany and abroad and is a leading provider of capital market products. Its subsidiaries, comdirect in Germany and mBank in Poland, are two of the world’s most innovative online banks. With approximately 800 branches going forward, Commerzbank has one of the densest branch networks among commercial banks in Germany. The Bank serves more than 11 million private and small-business customers nationwide and over 70,000 corporate clients, multinationals, financial service providers, and institutional clients worldwide. Its Polish subsidiary mBank S.A. has around 5.6 million private and corporate customers, predominantly in Poland, but also in the Czech Republic and Slovakia. In 2018, Commerzbank generated gross revenues of €8.6 billion with approximately 49,000 employees.

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