COMMERZBANK has merged fixed income, currency and commodities trading with its corporate finance arm, creating a new capital markets unit that will be headed by Roman Schmidt, who has overseen the two separately since the start of the year. The change is part of a restructuring of several parts of the German bank's corporate clients division. Some of the changes were announced internally in October, one source said, but many only took effect last week. The aim is to improve efficiency and profitability, and create clear responsibilities for earnings in sales units for client groups and products.
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