Commerzbank AG — M&A Activity 2009

Oct 15, 2009

News Details

Corporate | 15 October 2009 08:01

Commerzbank sells UK wealth management unit Kleinwort Benson to RHJ International

Commerzbank AG / Disposal/Mergers & Acquisitions

15.10.2009

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Commerzbank sells UK wealth management unit Kleinwort Benson to RHJ
International

Commerzbank is selling its Kleinwort Benson branded business, specializing
in wealth management and fiduciary activities in Great Britain, to the
financial holding company RHJ International. All relevant contracts have
been signed. The transaction is subject to approval by the anti-trust and
supervisory authorities and is expected to close in the first quarter of
2010.

Following the integration of Dresdner Bank, Commerzbank has introduced a
new strategic approach. The focus is on the segments of Private Customers
and Mittelstandsbank, the client-focused investment banking business, as
well as Central and Eastern Europe. In wealth management Commerzbank is
implementing its strategy by focussing on selected locations. The sale of
Kleinwort Benson was also part of the agreement with the EU Commission
regarding the utilization of the Special Fund Financial Market
Stabilization (SoFFin).

In the transaction both Kleinwort Benson Channel Islands Holding Limited
and Kleinwort Benson Private Bank Limited corporation will be acquired by
RHJ International. As at the end of 2008, both companies had wealth
management assets under management totalling GBP 5.4 billion (EUR 5.7
billion) and fiduciary assets under administration totalling GBP 15.7
billion (EUR 16.5 billion). As per end of December 2008 they had
approximately 650 employees.

The investment banking business of Commerzbank remains unaffected by this
transaction.

Press contact:
Simone Fuchs +49 69 136 44910

Contact:
Commerzbank AG
Group Communications
Tel.: +49 69 136 - 22830
mediarelations@commerzbank.com

15.10.2009 financial News transmitted by DGAP

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Language: English
Company: Commerzbank AG
Kaiserplatz
60261 Frankfurt am Main
Deutschland
Phone: +49 (069) 136 20
Fax: -
E-mail: ir@commerzbank.com
Internet: www.commerzbank.de
ISIN: DE0008032004
WKN: 803200
Indices: DAX, CDAX, HDAX, PRIMEALL
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
München, Hannover, Düsseldorf, Hamburg, Stuttgart;
Terminbörse EUREX; Foreign Exchange(s) London, SWX

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