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page 125 chapter II
in an intensive discussion. They are: team spirit, re-
spect/partnership, integrity, market orientation and
performance. This framework of values is based on a
value culture that has developed in the course of our
bank’s history and goes back to the self-image of the
“Hanseatic merchant”. After all, Commerzbank was
founded in Hamburg in 1870.
However, the definition of these five values did not
mean that an abstract corporate constitution was simply
decreed “par ordre du mufti”, so to speak. Rather,
the “ComWerte” project is consciously designed to be
a permanent, open and participatory process that actively
integrates every employee. Over 6,000 suggestions
for improvements resulted from the discussions
that arose throughout the bank, most of which demonstrated
great commitment and were certainly not
afraid of expressing criticism. The ideas ranged from