Dresdner Bank - Commerzbank International SA

Dresdner Bank Luxembourg S.A. Annual Report 2008
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Employees /corporate bodies: Appreciation for commitment, success and loyalty to
Dresdner Bank in Luxembourg
As of 31 December 2008 Dresdner Bank Luxembourg S.A. employed 383 staff. The average number of staff
in 2008 was 378.5 (previous year 366.5). Developments on the international financial markets and the growing
complexity of the bank’s business once again increased demands on the staff. We would like to thank
all our employees for their deep commitment, their identification to the company and their dedication.
As of 1 January 2008 Dresdner Bank Luxembourg S.A. has had a new dual management structure. The
members of the Supervisory Board were: Dr. Andreas Georgi (chairman), Klaus Rosenfeld (vice chairman),
Chlodwig Reuter and Anton Simonet. The members of the Management Board were Mr. Benedikt Buhl
(CEO), Arnd Heßeler and Joseph Kusters.
Business policy and risk management strategy: Adequate risk consideration
As a subsidiary of Dresdner Bank AG, the bank acts within the framework of the company-wide business
strategy of Dresdner Bank Group. In this context, the bank focuses on business with wealthy clients
(private wealth management) and fund services. The operational and strategic objectives of the local
corporate divisions are part of the respective higher corporate divisions at the Dresdner Bank AG level.
The main risks and unknown factors which the bank faces are presented in detail in the risk management
section of the Notes.
Outlook: Further expansion of private wealth management activities in the target
markets planned – Takeover by Commerzbank – Integration process ‘Growing together
in Luxembourg’ get started
Dresdner Bank Luxembourg S.A. is an essential partner in the cross-border private wealth management
business of Dresdner Bank Group. As such it was once again the most successful entity in business
with high net-worth and ultra high net-worth clients in the 2008 financial year. In its capacity as ‘regional
head’, the bank is responsible for large parts of Europe and the Eurozone.
The unchanged aim is to promote the advantages of the location of Luxembourg and to integrate these
advantages into products and problem solutions that increase client benefits and help stabilise client
relations within the entire Group on the one hand and improve on the other hand as well as to open up
new markets. In this context Dresdner Bank Luxembourg S.A. is planning further ambitious growth and
the expansion of private wealth management activities in the current target markets and beyond.
The integration of the asset management companies we have taken over in Holland as well as the expansion
of the activities of our subsidiaries in Holland and Belgium through the opening of new acquisition
and management offices will be further important themes in the 2009 financial year.