“Why Walter?” asked even senior staff at Dresdner Bank when Bernhard Walter was designated as the bank’s next chief executive. From outside German banking came a simpler query: “Who is Walter?” So far, Walter has made no attempt to shed light on either mystery.
Long before he succeeds Jurgen Sarrazin next May, Walter is already tainted as a compromise candidate. Ask any senior German banker, inside or outside Dresdner, and you’ll hear a different explanation for the surprise election of Walter by Dresdner’s supervisory board.
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