Commerzbank AG’s decision a few years ago to poach Manfred Knof made him the lender’s best-paid chief executive officer ever.

European stocks are expected to open in broadly higher territory Wednesday ahead of a U.K.-focused day for markets.

The pan-European Stoxx 600 index closed 0.7% lower, with autos down 2.6%, extending losses after a White House official told CNBC that U.S. President Donald Trump could make an announcement on ...