Commerzbank Says Share of Women in Management Increased

Commerzbank AG (CBK), Germany’s second-largest bank, said the proportion of women in leadership roles at the company rose last year.

Women accounted for 25.7 percent of the four levels of management below the executive board at the end of 2012, compared with 24.2 percent a year earlier, the Frankfurt-based company said in a statement on its website. Commerzbank wants female staff to make up 30 percent of managers in 2015, the document shows.

Germany, unlike some countries in Europe, hasn’t set quotas to improve the balance of female representation in corporate management. In 2011, Commerzbank and peers included in the DAX Index of Germany’s 30 largest publicly traded companies pledged to meet individual voluntary gender diversity targets.

Deutsche Bank AG, Germany’s largest bank, wants to increase its proportion of female senior executives to 25 percent and that of women in management to 35 percent by the end of 2018. The firm’s share of female directors and managing directors, excluding its Postbank unit, rose to 18 percent in 2012 from 17.1 percent in 2011, the lender said in a report earlier this year.

Neither Commerzbank, which employed 53,601 people at the end of last year, nor Deutsche Bank, with its 98,219 full-time-equivalent staff, employ women on their executive boards.

To contact the reporter on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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