Lunchtime Links: Swifter death for Dresdner Kleinwort?

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Commerzbank's merger with Dresdner is being rushed through and will now take place six months earlier than originally intended, and at considerably less expense for Commerzbank. Michael Diekmann, chief exec of Dresdner's current owner Allianz, says such speedy progress is "to the advantage of all parties" - except, maybe, the 9,000 people expected to lose their jobs in the integration process, of whom 1,000 are expected to come from Dresdner Kleinwort (DKW). Although DKW outperforms Commerzbank in most areas of investment banking, the underdogs are clearly going to be in charge. The Financial Times reports that Michael Reuther, head of Commerzbank's corporates and markets operations, will head Dresdner Kleinwort and that staff at DKW will be 'cut back substantially.'

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