Ex-Commerzbank boss Manfred Knof takes the lead at crypto company Valour
Ex-Commerzbank boss Manfred Knof takes the lead at crypto company Valour
Frankfurt, Deutschland - Manfred Knof, the former Commerzbank CEO, will now take on a new role as Chairman of the Canadian company Valour. Valour, a subsidiary of Defi Technologies, specializes in the distribution of over 65 ETP (Exchange Traded Products) that invest in digital assets such as cryptocurrencies. Knof, who will not extend his contract at Commerzbank beyond 2025, should use his contacts and management experience to expand the sale of these products and to expand the Defi Technologies investor base. Commerzbank itself currently offers Bitcoin purchase exclusively for corporate customers, while private investors can now invest through platforms such as Trade Republic and Flateex, such as the FAZ reported.
The news about Knof's change comes to Commerzbank at a crucial moment, the financial and strategic situation of which is under pressure through the unicredit takeover ambitions. In September 2024, the BUND offered 4.5 percent of Commerzbank shares, which were largely sold to Unicredit, which thus came to 9.5 percent of all shares in the bank. Unicredit plans to increase their participation to up to 21 percent, which opens up the prospect of a complete takeover, which Commerzbank decidedly rejected. These developments lead to a tense situation within the bank, since the current tour of Bettina Orlopp tries to regain control and stabilize the share price, explains the Welt .
strategic challenges of Commerzbank
The pressure on Commerzbank increases, especially after the share price has risen by almost 30 percent since Unicredit started. The bank's value is now around 20 billion euros, which is comparable to the status of the financial crisis. However, the bank has significant concerns about the possible takeover, in particular due to the expected loss of yield of up to 2.5 billion euros if a merger should be made.
Commerzbank also has to deal with challenges in relation to its crypto strategy. In 2025, experts assumed the turning point for the cryptom market in Germany. Banks, including Commerzbank, are faced with the task of adapting your business models to the new requirements. The introduction of markets in Crypto-Assets Regulation (Mica) will promote the integration of digital assets, but the implementation remains complex. Banks have to build security and compliance structures in order to be successful in the crypto market. While some banks like Deutsche Bank and DZ Bank are developing new crypto platforms, the dfpa
Future view
The future role of Manfred Knof at Valour could also be important for Commerzbank, especially if it successfully beats a bridge between traditional financial services and digital assets. The expectation is that he can help to expand institutional access to digital assets and to establish Valour as a trustworthy partner for investors. A return from Knof to a bank board, however, seems unlikely, which could further increase the uncertainty in the management of Commerzbank.
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