Commerzbank AG is the second-largest bank in Germany founded in Hamburg in 1870 on the initiative of Theodor Wille, a merchant engaged in trade with South America. After World War II, the headquarters moved to Düsseldorf and in 1958 to Frankfurt am Main. In 2009, Dresdner Bank merged into Commerzbank and ceased to be an independent entity. The new Commerzbank has more than 1,200 domestic branches and serves over 15 million customers in 50 countries. Outside Germany, the bank is represented through 25 branches, 32 representative offices and 8 major subsidiaries. More than 90% of Commerzbank’s capital is spread over a broad investor base; some 75% is held by institutional investors.
The New York representative office was opened in 1967 and was converted into a branch in 1971, the first German bank branch in USA. The branches in New York, Atlanta, Chicago and Los Angeles focus on commercial banking while Commerzbank Capital Markets Corporation in New York has been responsible for investment banking in the United States for the last four decades.