![]() Tilow was young, they moved to Akron, Ohio, where her parents became Farband leaders in the Midwest, and Shulem taught in one of the organization’s schools. Her parents were activists in the Farband, an organization of Yiddish-speaking Labor Zionists. 19, 1927, in New York City, the only child of Pearl (Perel) and Samuel (Shulem) Weiner. After living in New York, Ohio, and Connecticut, she moved to Portland in December 2022 and resided at Rose Schnitzer Manor. ![]() Her children include Aki Fleshler, former President of Congregation Kesser Israel in Portland. She was passionately devoted to Labor Zionism and Yiddish culture as well as her family. (Updates with analyst note in seventh paragraph.SUBMIT OBITUARIES TO: questions about preparing for end of life, dying, death, and mourning, visit or email contact Michael Rosenberg at the Portland Hevra Kaddisha at or 50.Īnna (Chana) Tilow z” l, passed away at the age of 95 on July 2. Potential ideas include winning wealth management mandates from existing business clients, getting more companies to use digital services, and selling more products linked to sustainability considerations, people familiar with the matter said at the time. By comparison, Commerzbank only returned 4.9% on tangible equity last year.Ĭommerzbank earlier this year mandated the consulting firm Bain to support work on the new strategy, Bloomberg has reported. ![]() “Our medium-term goal is to earn our cost of capital.”Ĭommerzbank has estimated that its cost of capital was 9.2% at the end of last year, and rising interest rates have since increased that cost, the people said. “We’re working to update our strategy,” Knof said at the annual general meeting in May. That and higher payouts would be “a marked shift from the endless restructuring seen over much of the last decade.”Ĭommerzbank has long been one of the least profitable banks in Europe, and it has also returned very little money to shareholders through dividends or buybacks since it was bailed out by the German government in the financial crisis. ![]() While Knof’s next plan will include additional savings as well as targeted investments, he doesn’t see the need for more sweeping changes after he embarked on steep cost reductions more than two years ago, the people familiar with the discussions said.Ĭommerzbank, which is heavily dependent on retail and commercial banking, has been a key beneficiary of the European Central Bank interest rate increases, which have made lending more profitable across the region.Ī 10% RoTE is possible, “should management utilize capital buffers and continue to divert capital to higher-yielding areas in the Corporate Clients division,” KBW analysts led by Thomas Hallett said in a research note last week. A spokeswoman for the lender declined to comment.Ī return of 10% means Knof would have to more than double profitability from last year, a challenge that would require a substantial jump in revenue and probably expense cuts. ![]() No final decision has been made and the details as well as the timing may still change, they said.Ĭommerzbank’s shares gained on the news, rising 3.4% at 2:14 p.m. The lender is also considering increasing shareholder payouts as part of the new strategy, which is likely to cover the period after the current turnaround plan concludes at the end of 2024.Ĭommerzbank’s leadership is currently discussing the new plan and intends to formally adopt it in late September, the people said, asking not to be identified discussing the private information. Knof wants Commerzbank to aim for a return on tangible equity of more than 10% under the new plan, compared with the more than 7.3% that he has pledged for next year, according to people with knowledge of the matter. (Bloomberg) - Commerzbank AG Chief Executive Officer Manfred Knof is likely to raise a key profitability goal when he unveils his next financial targets, as the German lender benefits from rising interest rates. ![]()
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