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Western EuropeApril 1 2007

Nick Teller

The CEO of Commerzbank’s corporates and markets division is meeting his brief to cut costs and risk but, he tells Geraldine Lambe, under his aegis there will also be selective growth.
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When Nick Teller was appointed CEO of Commerzbank’s corporates and markets division in November 2004, following the sudden departure of his colourful predecessor, Mehmet Dalman, his brief was clear: cut costs, trim the investment bank’s ambitions, and reduce risk and earnings volatility.

Mr Teller was no stranger to restructuring. As a member of the board of managing directors since April 2003, his previous role included a revamp of the German group’s mittelstand (small and medium-sized enterprises) division, which “wasn’t making as much progress in key areas, as we would have liked”.

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