Hans-Jörg Vetter, chairman of the supervisory board of the partially nationalized Commerzbank since August, is now also taking risks with private capital. The 68-year-old cousin bought Commerzbank shares for EUR 209,040 on Thursday – that is, the day on which Manfred Knof, chairman of the board, who was obliged by Vetter, presented his strategy and Commerzbank shares lost 6 percent. As a mandatory announcement shows, Vetter paid 5.23 euros per share.
So far this has been a losing business. On Friday, a Commerzbank share only cost 5.10 euros. As chairman of the supervisory board, Vetter receives basic remuneration of EUR 240,000 per year. In this respect, his share purchase for a good 209,000 euros is a vote of confidence in Commerzbank. No such share purchases are remembered by Vetter’s predecessors. Before joining Commerzbank, Vetter worked as a consultant and was previously CEO of the Landesbanken Berlin and Baden-Württemberg for around 15 years.