Corporate clients and institutions will continue to be served locally
Further step in the future program "New Dresdner"
As part of the future program "New Dresdner", Dresdner Bank has decided to reorganize its Latin American business activities. Dresdner Bank Group will accompany its German and international clients in their business ventures from its locations in Columbia, Mexico, Chile and Brazil.
For this purpose, Dresdner Bank AG will integrate parts of the Corporate Banking and Investment Banking activities of its 100% subsidiary Dresdner Bank Lateinamerika (DBLA). The decision was taken by the Board of Managing Directors yesterday. The international private banking business will be handled mainly from the European locations. The Private Banking of DBLA will be sold to an investor. Negotiations are already well advanced. For a part of the staff, the takeover by the investor is being negotiated. For the other staff members, talks are underway with the Worker's Council on a social plan, which should run until the end of 2006. Until then, the remaining activities of DBLA will be sold or closed down.
The reorganisation of the Latin American business is another step in the future program "New Dresdner" to focus on the strategic business activities
