Deutsche Bank, Commerzbank Unions United in Opposition to Merger

FRANKFURT AM MAIN, GERMANY - MARCH 07: Office buildings, including the corporate headquarters of Deutsche Bank, stand in the financial district in the city center on March 7, 2019 in Frankfurt, Germany. Some finance-related companies have been moving offices from London to Frankfurt due to uncertainties over Brexit. Photo by Thomas Lohnes/Getty Images

As Deutsche Bank AG and Commerzbank AG move closer to a deal, employee representatives at both lenders are lining up against a merger, saying the risks of a tie-up would outweigh the advantages.

Uwe Tschaege, Commerzbank’s deputy supervisory-board chairman and head of the bank’s works council, closed ranks with union colleagues from Deutsche Bank, saying in an email March 14 that their positions are “identical.”