Commerzbank’s new chief executive Manfred Knof is nobody’s idea of Mr Nice Guy, which probably explains his appointment.
A profile of Knof last year quoted a former colleague from insurer Allianz saying that Knof’s favourite tool when negotiating with unions was the crowbar.
This reputation as a human lever may have earned Knof his new position as chief executive of Commerz, after big shareholder Cerberus, the US private equity firm, helped to force out his predecessor Martin Zielke for cutting costs too slowly.
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