New chairman at Dresdner Bank

by Richard Kilner

Story link: New chairman at Dresdner Bank

The Supervisory Board of Dresdner Bank has named Martin Blessing as Herbert Walter’s replacement as chairman of the bank’s Board of Managing Directors.

Blessing, presently chairman of Commerzbank’s Board of Managing Directors, will become chairman of both banks’ MD boards.

In addition, members of Commerzbank’s Board of Managing Directors Markus Beumer and Achim Kassow join Blessing at Commerzbank on its board.

Beumer is henceforth responsible for the corporate client activities at both banks, with Kassow taking on the private client unit at Dresdner Bank.

The three new appointments will see their duties with Dresdner Bank end in spring of this year when the two financial institutions merge.

The deal was closed earlier this year, when Allianz and Commerzbank agreed to accelerate the merger.

Under the takeover’s original plans the merger would have occurred in the latter half of this year.