Commerzbank Absorbs CFP Subsidiary; Sets Up New Product Development Unit
BANKS
Commerzbank is integrating its derivatives subsidiary Commerz Financial Products (CFP) into the parent bank as of January 1, 1998, says Alfred Schorno, global head of FX in Frankfurt. The bank also plans to shift CFP's forex product-line unit, which includes market-making activities for FX options, FX derivatives and product development under the investment banking corporate division, and has made a number of senior appointments to lead the effort.
Schorno will have additional responsibility for
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