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. Last Updated: 07/27/2016

Commerzbank Recruits

FRANKFUR, Germany -- Germany's Commerzbank AG is recruiting hundreds of staff in a late dash to become a leading European investment bank alongside rivals Deutsche Bank AG and Dresdner Bank AG.

Commerzbank knows it has no alternative, management board member Klaus Patig said.

Germany's third-largest private sector bank, he said, cannot follow the example of Barclays Plc and National Westminster Bank in retreating from investment banking with the sale of large parts of their activities in the field.