The novel metallacyclic alkenylcobaltcarbene complex 2a is readily available by Meerwein alkylation of the underlying cobaltalactone 4a. Although having very similar structures (X-ray analyses) and electron transfer behaviour (cyclic voltammetry), 2a and its iron analogue 1a show significantly different reactivity and regioselectivity towards various nucleophiles. SINDO1, a semiempirical calculation method provides a suitable explanation for this distinct influence of the central metal moiety.