The Cobra is Hansgeorg Hofmann, former Merrill and Lehman syndicate chief, former board member of Dresdner Bank, who disappeared from view in December 1997 after a debacle about his tax returns.
Now he’s back, stealing the thunder from Allianz CFO Paul Achleitner as the spotlight of German bank consolidation pans away from the failed Deutsche/Dresdner romance to speculation about the fate of Commerzbank. Speculation is the word. On April 19, Commerzbank chairman Martin Kohlhaussen received Hofmann and a colleague and was politely told that Cobra (Geschäftsführer one H Hofmann) had built up a 9.9%
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