Kuala Lumpur, [24th Nov 2021]: The Global Business Service (GBS) hub under “Commerz Trade Services KL (CTS KL)” established in 2012 as a 100% wholly owned subsidiary of Commerzbank AG is vital in contributing to cost savings globally and the centralisation of various support functions across the global franchise. Following nine years of positive experiences in the Malaysian market with the high quality of cost-efficient operations, the strategic decision has been agreed to further expand coverage of global locations in addition to the expansion of services the GBS will provide in the future.

With this plan in mind, a strategic partnership has been built between CTS KL and InvestKL. Having agreed to collaborate alongside various proposals specified in the Letter of Intent (LOI) and with InvestKL’s engagement, this path is pivotal in executing the new strategy accordingly.

This commitment between both organisations will be a further milestone to the International Banking Sector in Malaysia and showcases that Malaysia continues to be a major strategic business epicentre in Asia. In addition to the capital city area, Greater Kuala Lumpur being a perfect location for the GBS to expand its business, the location delivers a friendly business environment along with acquirable world-class talent all of which are crucial to the success of the expansion.

The LOI between CTS KL and InvestKL builds a solid foundation and signals a clear basis for both entities to collaborate towards the successful execution of the business plan whilst boosting the economy of Malaysia. The LOI also acts as a blueprint for both InvestKL and CTS KL to remain focused and work jointly on future key engagement areas i.e., Human Capital Development, Account Management, Industry and Academia Collaboration and Brand Development.

Precisely CTS KL plans to create around 250 job opportunities by 2024 across numerous functions such as Banking Operations, Market Operations, Treasury Operations, Trade Finance, KYC, Compliance, Finance in addition to numerous IT-related services. CTS KL will persist to develop talent and explore further strategic partnerships with top local universities. This demonstrates the huge potential Malaysia has where a multi-lingual and multi-cultural proficiency will ensure a sustainable cost-benefit ratio.

Arne Graeber, CEO of CTS KL, is delighted with the sustained growth and success of the GBS and the continual job opportunities provided to the young and talented workforce in Malaysia. “The cooperation with InvestKL increases our visibility and underlines our commitment to Malaysia in general and Greater Kuala Lumpur in particular. We believe we have a lot of opportunities to offer and InvestKL can help us combine our offerings and demands with that of the local talent and labour market.