The FT says Dredsner Kleinwort is to be integrated into the Allianz Group after the takeover of Dres...
The FT says Dredsner Kleinwort is to be integrated into the Allianz Group after the takeover of Dresdner Bank.
The initial plan was to keep the investment bank as a separate legal entity and to float it in three years, however, Allianz has decided to create a division combining its corporate banking business with its investment banking operations in a structure comparable to Deutsche Bank's.
The corporate branch's integration was cause for the collapse of previous merger plans between Dresdner and its rival, Deutsche Bank.
Vodafone has promised a review of its executive pay schemes after facing a shareholder backlash against its remuneration policies for its second consecutive annual meeting, notes the Times.
The decision was taken at yesterday's general meeting after 39% of shareholders either voted against the existing options scheme or abstained.
Abbey National is seeking to build its life insurance, wealth management and business banking divisions as margins come under pressure in its core mortgage lending business, says the Times.
Abbey Nationals' takeover of Lloyds TSB was blocked earlier this month and the company is now considered bid-proof.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till