German lender Commerzbank has appointed Oliver Haibt to lead its transaction banking sales division, as well as its institutional client business.

Haibt has worked at the bank for 28 years and took up the new position on July 1. He reports to Michael Kotzbauer, board member for corporate clients.

In the new role, he is responsible for Commerzbank’s relationships with banking clients and non-bank financial institutions, and oversees the corporate clients transaction banking sales business.  

Previously, Haibt was divisional board member for product and sales management in the private and small customer businesses segment.  

He has also taken on various management roles, including Commerzbank’s corporate client and capital markets divisions, the lender said.  

Haibt succeeds Brigitte Réthier in the role, who has been appointed to the executive board of German development bank KfW.