* Commerzbank to cut size of management board -sources
* Management board to reduce to 7 from 9 members -sources
* Cut is response to overall staff reduction -sources
(Adds positions under review)
FRANKFURT, July 31 Commerzbank's
supervisory board will next week discuss cutting the size of its
management board to seven from nine members, three sources
familiar with the matter said on Wednesday.
The positions of Ulrich Sieber, board member responsible for
human resources, and Jochen Kloesges, currently responsible for
non-core assets, are under review, two supervisory board sources
said on Wednesday.
The bank declined to comment.
Germany's second-largest lender is in the midst of a radical
cost-cutting programme which includes shedding 5,200 of its
Reducing the size of the management board is a logical step
given the overall reduction in size of the bank, which is still
17-percent owned by the German state. Cross-town rival Deutsche
Bank has a management board with only seven members.
The board of directors is set to meet ahead of quarterly
earnings results on August 8.
(Reporting by Alexander Huebner, Kai Pfaffenbach and Philipp
Halstrick; writing by Edward Taylor; editing by Patrick Graham)