Interlocking Directorates of Bank’s Supervisory Board and Managing Board Members in Other Enterprises in the Latter Half of the 2010s

In Germany, large banks had established direct and indirect interlocking directorates of members of supervisory board and managing board on supervisory board of other enterprises again after World War II. Personnel connection system built through interlocking directorate on the supervisory board in the 1950s was greatly influenced by the 1965 Corporations Law that regulated number of mandates of such top management organ that one person could have. Thus, system of personnel connection between enterprises established in the late 1960s became a basic system of interlocking directorate in post-Germany and had been maintained for a long time. However, in the period after the 1990s, such a system of interfirm relationship, in particular, between bank and industrial enterprise has strongly changed under various factors such as globalization of economy and enterprise, internationalization of financial market and change of conditions of company financing brought about by it, and transformation of behavior of bank such as seen in movement from credit bank toward investment bank business. Therefore, building on discussions in Chap. 6 , this chapter analyzes situation of interlocking directorates of two largest bank’s top management members on supervisory board of other enterprise in the latter half of the 2010s from the comparative perspective with those in the period of the late 1960s. Through these discussions, changes in industry–bank relationship built through interlocking directorate of members of the supervisory board and the board of directors of Deutsche Bank and Commerzbank are clarified.