What do Dresdner Bank and the Republic of Romania have in common? Both are trying to enhance their public image, battered by recent reports of high-level infighting and financial impropriety by senior officials.
But it was a particularly cruel irony that a photograph of Dresdner Bank’s chairman Jürgen Sarrazin appeared in error next to a newspaper’s headline: “Bucharest works on its image”. The paper’s picture desk had mistaken Sarrazin for Romanian president Emil Constantinescu.
The blunder came at the end of an awful October for Dresdner’s 12-strong board, which is recovering from a triple shock: first supervisory board chairman Wolfgang Röller was forced to resign after being investigated for tax evasion (nothing has been proven); a few days later his board colleague Hans Adenauer was exposed as a self-confessed tax evader (he failed to warn them before it hit the papers).
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