Dresdner Bank - Commerzbank International SA

took place in the atrium of Commerzbank. Martin Blessing appeared for Commerzbank,
Michael Diekmann for Allianz and Herbert Walter for Dresdner Bank; also present from
Commerzbank were CFO Eric Strutz and Corporate Communication Manager Richard Lips.
Blessing explained the two-stage transaction and future business model to the journalists
using charts. According to this, Commerzbank would acquire in a first stage 60.2 percent
of the shares in Dresdner Bank from Allianz in early January 2009. In exchange, the insurance
company would receive shares, a cash payment and parts of the Commerzbank fund subsidiary,
Cominvest. The acquisition of the remaining shares by Commerzbank would take place
in autumn 2009.
“With this takeover, we reinforce our claim to become the leading bank in Germany”, declared
Commerzbank CEO Martin Blessing. The merger of Dresdner Bank and Commerzbank offers
the opportunity for the new institution to assert itself not only on the German market but
also to grow on a European scale. The combination of SME business activities, an extensive
presence in Central and Eastern Europe, as well as good positioning in the real estate business
are strengths of the new bank.
Commerzbank and Dresdner Bank have outstanding competence not only in the private
customer sector, but also particularly in advising SME companies – with the merger, they are
number one in this sector.
With its focus on SME business, the new bank reinforces the status of Germany as a business
centre. “Dresdner Bank brings valuable assets to the new bank: a broad and very loyal customer
base, a highly efficient sales division and excellent employees”, says Dresdner Bank CEO,
Herbert Walter. Dresdner Bank is leading in advisory banking. The working title phrased by
Blessing matches this: “Commerzbank – the advisory bank”.
2. Continued excellent customer service during the integration phase.
3. Communication in all phases of the integration. – Lacking communication would cause
uncertainty among employees as well as customers. This must be avoided.
Actions to be taken during the half-year from the majority acquisition until the merger:
All the preparatory work for the actual integration, such as meetings with the work councils.
Or issues such as the merger of branches, reforming of teams, establishment of management
tiers, introduction of a new brand, creation of a common identity.
Advisory Bank with a Future
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