Dresdner Bank - Commerzbank International SA

In addition, the Quality Management division raised its level of support in the day-to-day business for
products, processes and front-office IT systems. Therewith, too, the division contributed significantly to
‘sales excellence’ at the Dresdner Bank Luxembourg S.A.
The financial crisis was accompanied by a major loss of investor confidence in the quality of various
financial investment products. Against the background of this it became clear how important regular
examination of the quality of advisory and management services is. The continued development of our
advisory process towards a transparent and partner-like relationship with the client is therefore a target
that we have defined during the course of the year. A significant factor in the future will be the supply
of expanded securities portfolio information providing added value.
For this reason, already in 2008 we began with the implementation of an IT system that will enable us
in the future to assess each client portfolio via a risk/performance analysis. This will allow the client for
the fist time to see whether the securities in his portfolio fit with his personal risk profile. The basis for this
analysis is the theory formulated in the 50s by Harry M. Markowitz on how to describe the connection
between risk and performance, for which he was awarded the Nobel Prize in Economics in 1990. In an
additional step the system is also to be supplemented with benchmarks, in order to make the added
benefits provided by our portfolio managers and/or financial consultants transparent to the client. With
the implementation of this system we will meet the requirements for financial advisory services that are
appropriate to the investor and the object, pursuant to the MiFID directive.
Furthermore, we are again planning comprehensive training courses and coaching as part of the optimisation
of our advisory and support processes, as well as comprehensive training for our insurance experts.
Financing
Management Report for Financial Year 2008
The creation of capital for the generation
of scope of action. Financial independence
and the optimisation of customerorientated
capital market strategies
due to the provision of funds;
in all freely convertible currencies.
27
Management Report
for Financial Year 2008