COMMERZBANK AKTIENGESELLSCHAFT

To our Shareholders Corporate Responsibility Management Report Risk Report Group Financial Statements Further Information 153
97
127 71 Business and overall conditions
135 79 Earnings performance, assets and financial position
147 91 Segment performance
147 91 Private Customers
137 193 Our employees
143 199 Report on events after the reporting period
144 200 Outlook and opportunities report
Asset Management was also able to effectively demonstrate its positioning as an active risk
manager in 2011 in the face of sometimes hefty market turbulence. Our profiles fared well
against our rivals. Acceptance also came from the critical public: like last year, the “Euro”
magazine rated our asset management in its test as “very good”, which is the highest assessment.
Wealth Management also focused on funding in 2011, not least due to the low interest
rates. Working closely with Mittelstandsbank, we support customers in a very broad variety of
private and business matters.
Outlook
We will complete the integration of our branch business in 2012. This involves merging the
remaining branches by year-end and generating the relevant integration synergies. We will
also redesign more branches as branch models of the future, which at the same will allow us
to make further significant cost savings.
Our primary aim is to again boost profitability in our branch business on a sustained basis
through quality and growth. To do this, we will press on with our “Customer focus” programme,
which we began in 2011, and will review and enhance our business strategies in individual
areas. We will carry on with the new sales strategy in Private Customer business that we
introduced in 2011 and gear our advisory services even more towards customer needs. To do
this, we will set up a new Customer Advisory Board and include it more often in the development
process for our range of products. We will also incorporate customer satisfaction into the
remuneration of our sales staff from this year onwards. Customer willingness to recommend
the Bank was already part of the variable remuneration of senior managers in the past. From
2012, employee satisfaction will also be taken into account.
To continue expanding our construction finance business and increase our ability to offer
our customers the best products, we also intend to arrange private property finance for them
from third-party providers in future. If the pilot project that started in Hamburg in December
2011 proves successful, we will roll it out nationwide.
Direct Banking
The Direct Banking division covers the activities of comdirect group (comdirect bank AG and
ebase GmbH). With some 2.6 million customers in total, 1.7 million securities accounts under
management and 18.7 million securities transactions carried out, comdirect group is the
market leader in online securities business, making it one of the leading direct banks in
Germany.
Group Management Report