Dresdner Kleinwort

Dresdner Kleinwort ( DKIB ) was the brand name under which the Dresdner Bank AG operated investment banking divisions by Commerzbank AG immediately before the acquisition. Previous brands this business were Dresdner Kleinwort Benson (DKB ) from 1995 to 2001 and Dresdner Kleinwort Wasserstein ( DrKW ) Between 2001 and 2006.

On the destruction of the Dresdner Kleinwort brand it came in January 2009 as a result of the takeover of Dresdner Bank AG by Commerzbank AG. At that time the new owner decided to restructure the investment banking division of Dresdner Bank AG. The aim was to better focus on the German corporate customers and institutional clients.

The subsidiaries of Dresdner Kleinwort in Japan and Brazil should be closed or sold on decision of the new management. The bank withdrew early in the first half of 2009 largely from the brokerage business in the UK back. The inclusion of the remaining businesses in the Corporates & Markets division of Commerzbank is to be completed by the end of 2009.

With headquarters in London and Frankfurt am Main and branch offices in internationally important financial centers such as New York, Paris, Tokyo, Singapore and Shanghai Dresdner Kleinwort was represented in 16 countries. Until recently, a total of about 6,000 employees worked around the world.

The 1995 emerged from the acquisition of the UK investment bank Kleinwort Benson by Dresdner Bank 's investment banking division disposal has always been a very good market position in the City of London and achieved through the acquisition of U.S. investment bank Wasserstein Perella 2001 ( by Bruce Wasserstein ) an improved position also in international business.

  • Chief Executive Officer ( CEO) was from January 2009 Michael Reuther, so that the previous CEO Stefan Jentzsch replaced, who joined in December 2005 by the HypoVereinsbank in the Management Board of Dresdner Bank AG, where he was responsible for the company's Global Banking & Investment Banking.
  • Dresdner Kleinwort was from 2006 sponsor a triathlon teams at the two -time Ironman World Champion Normann Stadler.
  • Dresdner Kleinwort has sponsored in recent years the Frankfurt Marathon and was also the main sponsor for the German Triathlon team. This sponsorship will be continued in the future for the Commerzbank brand.

History

  • On 23 July 2001, the takeover of Dresdner Bank followed together with Dresdner Kleinwort Wasserstein by Allianz AG. After differences with the alliance 's board left Wasserstein Perella - founder Bruce Wasserstein 16 November 2001 the Bank to act on behalf of the competitors Lazard as CEO.
  • On 24 November 2005, the Supervisory Board of Dresdner Bank, the investment bank decided to merge with the corporate department for Corporate & Investment Banking.
  • In spring 2006, the Management Board of Dresdner Bank decided to change the name of the investment banking activities with effect from 29 June, 2006 Dresdner Kleinwort.
  • 2008, was held responsible as a result of the continuing high losses of Dresdner Bank, for the particular business activities of Dresdner Kleinwort, there was the takeover of Dresdner Kleinwort by the competing Commerzbank.
  • 2009 completed the new owner Commerzbank restructuring the investment banking activities of Dresdner Kleinwort.
  • On 1 September 2009, the Dresdner Kleinwort brand was replaced by the Commerzbank brand and thus completed the full integration into the Corporates & Markets division of Commerzbank.
  • As announced in October 2009 that Commerzbank will, inter alia, under pressure from the EU competition watchdog part of the former Dresdner Kleinwort bidding on high net worth individuals specialized bank Kleinwort Benson, to financial investor RHJ International.
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