UniCredit39;s CEO has wanted to explore tieup with Commerzbank
Deal would be ambitious attempt at crossborder consolidation
Opposition to a deal is fierce in Germany

FRANKFURT, Sept 24 Reuters Bettina Orlopp will take over as chief executive officer of Germany39;s Commerzbank in the near future, making her one of the country39;s highestprofile bankers during a tumultuous time for its No. 2 lender.

The development announced late on Tuesday comes as the bank fends off advances from Italian bank UniCredit, which has acquired a sizeable stake in Commerzbank and wants to explore a takeover.

UniCredit39;s swoop is the most ambitious yet at a panEuropean bank merger, but it faces considerable political hurdles in Germany. The bank39;s management, employees and the nation39;s chancellor, Olaf Scholz, have voiced opposition to a potential takeover.

Commerzbank, with more than 25,000 business customers, almost a third of German foreign trade payments and more than 42,000 staff, is a linchpin of the German economy.

While we have a strategy that is effective, significant tasks lie ahead, Orlopp said.

Orlopp, currently chief financial officer, will take over from Manfred Knof, who announced this month he would step down as CEO at the end of 2025.

His announcement came hours before UniCredit revealed it was building a stake in Commerzbank, raising questions about whether Knof was best placed to lead talks on any tieup.

The decision to make Orlopp the new chief executive so…