Deutsche and Dresdner bank: Into the blender

On March 9, Deutsche Bank and Dresdner Bank announced a “merger of equals” in a deal which could leave insurer Allianz owning and controlling their retail network. Deutsche and Dresdner said they will be “blending the best” to create a winning investment and private banking giant, but insiders fear another UBS-style massacre. Who devised this millennium deal and will it work? Early reports suggest there are many on both sides who wish the whole thing had never been started. David Shirreff reports

Monday March 27. Hermann-Josef Lamberti, Deutsche Bank board member in charge of global technology and services is hosting an offsite meeting in the Sheraton at Frankfurt airport.

The mix is about 70% Deutsche Bank people, 30% Dresdner. Lamberti reassures the troops on both sides: there’s no dogma about which structure will prevail in my line of business, global transactions. But the underlying message is clear: Deutsche Bank’s IT system will prevail, and Dresdner’s will go onto the scrapheap of history, along with its specialist operators.

Deutsche and Dresdner bank: Into the blender

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Deutsche and Dresdner bank: Into the blender

Thanks for your interest in Euromoney!To unlock this article:

Regulators should be upfront with taxpayers – and admit all deposits are guaranteed

The Danish Compromise tests Europe’s appetite for regulatory easing

What can US bankers really expect from Trump’s deregulation impetus?

Prem Natarajan on Capital One’s AI stairway to heaven

Thanks for your interest in Euromoney!
To unlock this article: