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May 11, 2009

Commerzbank takes over Dresdner Bank

by Richard Kilner

Story link: Commerzbank takes over Dresdner Bank

The merger between Dresdner Bank AG and Commerzbank AG has today been enacted.

From now on, the rights and obligations that were formerly Dresdner Bank’s are now Commerzbank’s, and all the employees of Dresdner Bank now work for Commerzbank.

There are to be no immediate changes for the customers of Dresdner Bank, whose account numbers and routing numbers will be unchanged.

Over time the IT and branch network infrastructure of the two entities will be fully integrated.

In January the Board of Managing Directors of Dresdner Bank named Martin Blessing as the new chairman, meaning Blessing was chairman of both banks’ MD boards.

The appointment followed an agreement by Allianz and Commerzbank to accelerate the rate of the takeover.

 

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