Dresdner New man, same plan

Nearly four years ago Leonhard Fischer lost his job as boss of Dresdner Kleinwort Wasserstein for suggesting that the German investment bank swallow Dresdner’s corporate bank. Now, two bosses later, DKW’s owners Allianz are finally following his advice. Allianz is breaking up Dresdner’s corporate unit, pushing its larger corporate clients into DKW and the smaller ones down to the retail and private banking business. This makes eminent sense. It allows DKW to create a single streamlined team for...