GEORGE TOWN, July 17 – Commerz Trade Services Sdn Bhd, a subsidiary of Commerzbank A.G. and a leading provider of trade finance digital solutions, is pleased to announce the opening of its new office in Penang. This strategic expansion marks an important milestone in the company’s growth and highlights its commitment to Malaysia as a key operational hub. Penang, often referred to as the “Silicon Valley of the East,” is a thriving technology and manufacturing center with a rich history in trade and commerce.
With its strategic location, robust infrastructure, and talented workforce, Penang has become a significant player in the global economy. 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 establishment in 2012, Commerz Trade Services has made remarkable progress, diversifying its range of services and expanding its global reach across multiple regions.
With a current workforce of 400 professionals, the company has set ambitious goals for further growth. With a projected addition of 150 new employees per year, Commerz Trade Services aims to reach a workforce of 1,000 employees by 2027. The scope of services offered by Commerz Trade Services has expanded beyond trade finance to include a comprehensive range of solutions, such as payments, AML/KYC, derivatives operations, software development, test automation, compliance, and finance.
This comprehensive suite of offerings enables the company to provide holistic support to its clients and solidify its position as a leading player in the industry. One of the key factors contributing to Commerz Trade Services’ success in Malaysia is the availability of cost advantages and exceptional local talent. By fostering cooperative partnerships with local universities, the company actively nurtures and develops the skills of emerging professionals, offering clear career paths within the organization.
This commitment to local talent aligns with the company’s long-term growth strategy and its dedication to fostering a vibrant ecosystem of digital innovation. Commerz Trade Services extends its gratitude to InvestPenang for its support in facilitating the establishment of the new office at GBS@Mayang in Penang. The collaboration with InvestPenang has been instrumental in ensuring a smooth transition, with the successful recruitment and integration of the first 35 employees already underway.
The expansion of Commerz Trade Services into Penang not only reinforces its commitment to supporting global trade but also complements the synergies between its offerings and the banking technology expertise of the Commerzbank Group. Arne Graeber, CEO of Commerz Trade Services Sdn. Bhd., expressed his pride in the new office opening, stating, “This expansion not only provides us with an additional footprint in Malaysia but also allows us to tap into the exceptional talent pool available in the northern region of the Peninsula.
Our commitment to Malaysia remains unwavering, and we are dedicated to fostering the growth of our organization predominantly with local talent.” The caretaker Penang Chief Minister, Right Honourable Mr. Chow Kon Yeow, commended Commerz Trade Services for its dedication to the state’s growth and success. He expressed high hopes for the company’s ability to nurture local talent and cultivate an innovative community.
Commerz Trade Services’ exemplary company culture and forward-thinking leadership have been recognized by the market, resulting in its continued growth and the trust and confidence of its valued clients. As Commerz Trade Services inaugurates its new office in Penang, it looks forward to a prosperous future driven by its strong commitment to Malaysia, the development of local talent, and continuous technological advancements.