The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Commerzbank - Kohlhaussen's big gamble

Commerzbank has defied history and set up a profitable global equities operation from scratch. Or has it? We can't measure the success of this adventure. Nor does the bank's management want us to know. It's staking everything on Wunderkind Mehmet Dalman whose empire, to his own amusement, is expanding by the minute. Laura Covill reports

   

Is he mad, bad or just recklessly confident? Few investment bankers would be as candid as Mehmet Dalman.

"It worries me that things are going so well," says Dalman, Commerzbank's head of equities, who last month also took over fixed income. "We couldn't have planned that."

"So it's a fluke?"

"Well, yes."

Dalman makes it clear he has little time for his commercial banking bosses. His real hero is John Meriwether, fallen angel of Salomon Brothers and Long-Term Capital Management.




Mehmet Dalman




When Commerzbank bank announced the launch of its equities house in 1997, the market yawned. Yet another continental European bank was discovering too late that it ought to venture into European equities. Like others before it, Commerzbank took a domestic equities operation, renamed it "global" and invested heavily in creating an international operation: today Europe, tomorrow the world. The linchpin was Mehmet Dalman, hired from arch-rival Deutsche Bank where he had headed Japanese equities.

Ennui turned to amusement as Dalman used enormous persuasive powers plus a generous portion of good looks and charm to attract experienced professionals jaded by the culture of huge investment banks and keen to make a fresh start at what he terms a "start-up operation".


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree