Commerzbank AG through its subsidiary Commerz Trade Services Sdn Bhd has opened a new office in Penang in line with its rapid growth trajectory and commitment to Malaysia as a key hub for its operations.
By establishing a presence in Penang, Commerz Trade Services aims to tap into the region’s dynamic business environment and leverage the abundance of talent and resources available.
Since its inception in 2012, Commerz Trade Services said it has experienced remarkable progress, steadily diversifying its range of services and expanding its global reach across multiple regions. With a current workforce of 400 dedicated professionals, the company has set ambitious goals for further growth. Projected at a strong 150 new employees per year, Commerz Trade Services aims to achieve a workforce of 1,000 employees by 2027.
One of the key factors contributing to Commerz Trade Services’ success in Malaysia is the availability of cost advantages and exceptional local talent. By engaging in cooperative partnerships with local universities, the company actively nurtures and develops the skills of emerging professionals, providing them with clear career paths within the organization.
The firm said the collaboration with InvestPenang has been instrumental in ensuring a seamless transition, with the successful recruitment and integration of the first 35 employees already underway.
“We are incredibly proud to inaugurate our new office in Penang and embark on this exciting new chapter of our company’s growth,” said Arne Graeber, CEO of Commerz Trade Services Sdn. Bhd.