Commerzbank Targets Institutional Sales; CFP Subsidiary Gears Up In FX Options

BANKS

Commerzbank is targeting institutional customers in a major hiring effort that officials hope will refocus the bank's business away from the traditional German emphasis on corporates, say officials. At the same time, Commerz's new deriviatives subsidiary, Commerbank Financial Products, is poised to begin full-service trading of currency options in October, they add.

According to global foreign exchange manager Martin Wiedmann, the bank is hiring 15 to 20 sales executives, chiefly in instituti