Commerzbank has made two promotions within its international corporates and global financial institutions (FI) teams.

Jörg Motel (pictured) becomes new country CEO Asean and head of corporates international, Singapore. He moves from a role as head of FI Asia and replaces Peik Achtert.

Motel joined Commerzbank in 2008, having previously worked for Landesbank Baden-Württemberg (LBBW) in Stuttgart and BW Bank in Hong Kong.

Commenting on the appointment, Motel says he will work to establish personal relationships with the bank’s corporate clients and increase its footprint and business in Singapore and Asean.

“Competition is fierce, but many local companies have German and European backgrounds or trading relationships, so we can leverage Commerzbank’s strong market position in our European core markets. We are seeking to provide sector expertise, and offer a good balance of products,” he says.

Succeeding Motel, Jochen Müller will become new head of FI for Asia and Latin America, based in Frankfurt. He moves from a role as country manager for UK corporates in the bank’s London branch. Before joining Commerzbank in 2009, he worked for UBS and Lehman Brothers.

In his new role, Müller will focus on expanding the bank’s FI coverage in the two regions. “Our Asian and Latin America networks are very important parts of both our global FI franchise and our corporate client business. I’m particularly keen to further strengthen our suite of capital markets solutions for our FI client base,” he says.

Motel reports to Roland Boehm, head of corporates international, while Müller reports to Bernd Laber, divisional board member, trade finance and cash management.