One of London’s most historic banking names – Kleinwort’s – faces extinction from the world of investment banking.

Dresdner Kleinwort is to be aggressively shrunk following the acquisition of its German parent, Dresdner Bank, by domestic rival Commerzbank. The new strategy is to focus the investment bank on German corporate and institutional clients, and selected business lines within fixed income and equity derivatives. The Dresdner Kleinwort brand will be ditched.