Dresdner to hive off DKB
Saturday 20 November 1999
Dresdner, which bought Kleinwort Benson five years ago, also plans to expand the operation in the next two years to make it a "leading European securities house". More acquisitions to boost the bank's fund management arm are possible.
The announcement of the strategy follows the completion of a report into the bank's future by consultants McKinsey. The review came after the $10bn takeover by Deutsche Bank of Bankers Trust of the US, which highlighted the weakness of Dresdner's position in investment banking and led to a leaking of talent from the firm.
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