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Dresdner Kleinwort Wassertein (DrKW) saw its London-based head, Andrew Pisker resign yesterday.

The resignation follows the decision of DrKW's parent Dresdner Bank to combine corporate and investment banking operations with Stefan Jentzsch as its head.

DrKW is effectively to cease as a separate entity but the brand would still exist.

Mr Jentzsch, a former HVB executive, will be based in Frankfurt.

Dresdner is keen to point out that they still see London as an important place to be. London has a third of DrKW's 6,000 staff.

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