Comdirect bank : Frauke Hegemann to leave the Commerzbank Group

Quickborn, 16.09.2020

Frauke Hegemann, CEO of comdirect bank AG, will be leaving the company following the merger with Commerzbank AG to seek out new professional challenges.

Frauke Hegemann, 44, will not be continuing her career within the Commerzbank Group, meaning that she will not opt to return to Commerzbank AG. She will be leaving the Group following the merger of comdirect bank AG with Commerzbank AG to seek out new professional challenges.

After holding various management positions within the Commerzbank Group, she has been a member of the management of comdirect bank AG since April 2018, assuming the position of CEO at the beginning of the year. During her time at comdirect, she made intensive efforts to forge ahead with moves to scale the company's customer management, which has received several awards, providing fresh impetus for even better customer experiences time and again. In her role as HR Officer on the Board of Managing Directors, she played an active role at the same time in further shaping the cultural development of the company, also incorporating this issue into the joint integration project.

Commerzbank announced its plans to integrate comdirect bank AG in September 2019. Frauke Hegemann has been a key member of the integration team ever since, playing an important role in contributing the strengths of the comdirect model and, in doing so, helping to develop innovative customer experiences for the future. In the challenging environment witnessed in recent months, she systematically implemented the transaction leading up to the merger and was responsible for steering organisational activity during this intensive period.

'In recent years, Frauke Hegemann has worked untiringly to make comdirect's excellent customer management more digital, more scalable and even better, as is also confirmed by the fact that comdirect was awarded the title of 'Best Bank'* for the third consecutive time', said Jochen Sutor, Chairman of the Supervisory Board of comdirect bank AG. 'She used her conceptual and organisational strengths, as well as her sensitivity in dealing with others, to lead the company and its employees through intensive times in a very challenging year. We would like to thank her for her excellent work. We are really sorry to see her leave the Group and wish her all the best going forward.'

Frauke Hegemann, born in 1976, has been the CEO of comdirect bank AG since January 2020. In addition to Corporate Development & Strategy, Human Resources, Risk Management & Compliance, Internal Audit and Corporate Communications, Frauke Hegemann is responsible for Finance, Controlling & Investor Relations and Information Technology, Legal, Data Protection & Organisation and the onvista bank division's back office activities.

She will also be resigning as Chairwoman of the Supervisory Board of Commerz Direktservice GmbH as part of the merger. A successor will also be found to replace her as chair of the Rechnen foundation.

Frauke Hegemann has been with comdirect since April 2018. She initially fulfilled her remit as a member designate of the Board of Managing Directors in the capacity of Chief Representative, and took over as COO of comdirect bank AG in April 2019.