Martin Blessing
Martin Blessing | |
|---|---|
| Born | July 6, 1963 Bremen, Germany |
| Occupation(s) | Banking professional, Corporate leader |
| Years active | 1989–present |
| Known for | CEO of Commerzbank (2008–2016), Co-President of UBS Global Wealth Management (2016–2019) |
Martin Blessing (born July 6, 1963) is a prominent German banking professional and corporate leader.
Education
Blessing began his career by completing a banking apprenticeship at Dresdner Bank. He pursued studies in business administration at both the University of Frankfurt and the University of St. Gallen between 1984 and 1987, where he was involved with the International Students' Committee. In 1988, he obtained an MBA from the University of Chicago Booth School of Business.
Career
Between 1989 and 1996, Blessing was employed at McKinsey & Company, achieving the position of Partner two years prior to his departure. Subsequently, he took on the role of joint Head of Private Clients at Dresdner Bank from 1997 to 2000 and then became CEO of its subsidiary Advance Bank from 2000 to 2001; this subsidiary was later merged back into Dresdner Bank in 2003.
Blessing joined Commerzbank in 2001, where he assumed several leadership positions including Head of Private Clients (2001–2004), Head of Corporate Banking (2004–2008), and oversight of IT & Operations starting in 2006. He was appointed CEO in 2008, just before the collapse of Lehman Brothers, and subsequently led Commerzbank’s acquisition of Dresdner Bank, combining Germany’s second and third largest banks. He was instrumental in steering Commerzbank through the aftermath of an €18.2 billion government bailout in 2009, although the bank's share price continued to face challenges. Following this intervention, his annual salary was limited to €500,000, and he declined bonuses in 2012 during a period of modest net profits.
During his tenure as CEO, Blessing accompanied Chancellor Angela Merkel on official visits to China in both 2010 and 2012, highlighting his role in fostering international banking relationships.
In 2016, Blessing transitioned to UBS Group AG as Co-President of Global Wealth Management and joined the Group Executive Board. He also held positions as President Wealth Management (January–February 2018), President Personal & Corporate Banking, and President UBS Switzerland between 2016 and 2017. He departed UBS in October 2019, with Iqbal Khan succeeding him.
On March 15, 2021, Blessing co-established Europe’s first special purpose acquisition company (SPAC) dedicated to fintech and financial services sectors.
Other activities
- Danske Bank, Supervisory Board Member since 2020; Chair since 2022
- Association of German Banks, Board Member from 2009 to 2012
- Baden-Baden Entrepreneur Talks, Executive Board Member
Personal life
Born in Bremen, Germany, Blessing comes from a family deeply rooted in banking: his father Werner Blessing was a board member at Deutsche Bank, while his grandfather Karl Blessing served as President of the German Federal Bank. He met his wife Dorothee during his university years; together they have three daughters. His brother-in-law Axel Wieandt held the position of CEO at Hypo Real Estate from 2008 until 2010.