A visitor to Dresdner Kleinwort’s relatively new London headquarters cannot fail to be impressed. The building oozes slickness, not least because stationed opposite the reception is a Formula One racing car. Dresdner’s parent, Allianz, is one of the sponsors of the Williams team, whose drivers are Finland’s Nico Rosberg and Australia’s Mark Webber.
Dresdner is not the only financial institution backing an F1 team. Royal Bank of Scotland is also a sponsor of Williams, and last month ING announced a three-year deal with Renault. Credit Suisse is a sponsor of the Sauber team. And in September, Formula One Administration Ltd signed an agreement with Spanish bank Banesto, entitling it to exclusive use of the Formula 1 brand on financial products in Spain.
It’s somewhat ironic that Dresdner has an F1 car in the building. After all, motor racing is associated with glamour, sex appeal and life in the fast lane – all the things that Dresdner is not. But then Williams finished eighth in this year’s constructors’ championship and Rosberg and Webber failed to finish in the top 10 in the drivers’ championship. That seems appropriate for the German bank.