Commerzbank has appointed Christian Toben as the German lender’s new head of financial institutions for emerging markets.

Toben replaces Holger Katuzky, who will take the role of head of financial institutions, public sector and country risk management, in the bank’s group risk management division.

Toben’s promotion comes after six years as head of financial institutions for Africa. In his new role, he will be responsible for Commerzbank’s relationships with financial institutions, central banks and finance ministries in regions including Latin America, Central and Eastern Europe, the former Soviet states and Africa.

He will report to Nikolaus Giesbert, the divisional board member in charge of institutional clients and transaction banking.

“I look forward to applying the expertise and knowledge I’ve gained throughout my career in my new role, to support the bank’s financial institutions division across the world,” Toben says.

“Following a turbulent year, revival of emerging market trade flows are key to economic recovery – I will continue to ensure Commerzbank is the strategic partner of choice for financial institutions in regard to transaction banking and market products to nurture and grow their business and guarantee a market leader access for Commerzbank´s corporate customers along the global trade corridors.”

Toben is a 20-year veteran of the bank, with roles in Germany, Argentina and Panama.