Dresdner Bank: Incorporating Risk into Corporate Strategy
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Case Details:
Case Code : BSTA098
Case Length : 15 Pages
Period : 2004
Organization : Dresdner Bank
Pub Date : 2004
Teaching Note :Not Available
Countries : Germany
Industry : Banking
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Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Introduction
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Dresdner Bank, Germany's third largest bank, after Deutsche Bank and HVB Group, had about 1,100 branches in more than 60 countries.
In addition to its core retail lending and deposit activities, the bank also offered corporate finance and investment banking services.
The company's asset management operations had been combined with those of insurance giant Allianz to form Allianz Dresdner Asset Management (ADAM). Allianz owned more than 95% of Dresdner Bank. Following Alliance's acquisition in 2001, Dresdner restructured into two business units: Corporates and Markets, which combined the company's investment banking and business lending operations; and Private and Business Clients, which entailed retail banking, loans, and portfolio management.
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Background Note
Dresdner Bank was founded as the Dresdner Bankhaus in 1872 by Carl Freiherr von Kaskel. Formed partly to finance railway construction, Dresdner became Germany's second largest bank behind Deutsche Bank by 1884. That year the bank moved its headquarters from Dresden to Berlin.
In 1895, Dresdner opened its first foreign office in London. Eight years later, it formed an alliance with US banker J.P. Morgan and opened branches in South America and Asia. Dresdner's high interest rates attracted several depositors and spurred lending activity.
After Germany's defeat in WWI, the bank's foreign operations ceased. Reconstruction and war reparations put a severe strain on the company. The Weimar Republic's economic reforms briefly stabilized Dresdner, but in the midst of the Great Depression, the government took over 90% of the bank in 1931...
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