UK-based Kleinwort Benson has announced that Holger Boschke will succeed David Henderson as chairman of Kleinwort Benson Private Bank as of November 2008.

The current chairman David Henderson will retire on 6 November 2008, his 60th birthday, but will continue to work with Kleinwort Benson as a special advisor to the bank for the next year.  

Mr Henderson's departure comes after four years as chairman and director and previously as chief executive of Kleinwort Benson Private Bank from 1995 to 2004.  He will also retire as Director of Kleinwort Benson Channel Islands Holdings.

Holger Boschke joins Kleinwort Benson from Dresdner Bank, where he was chief investment officer for private and business clients.  Mr Boschke’s appointment follows a seven year association with Kleinwort Benson during which he worked with the bank in a variety of roles, most notably that of deputy CEO, head of Investment Products from 2002 to 2006.  Mr Boschke has been a director on the Board of Kleinwort Benson Private Bank for since July 2007.  

Rob Taylor, chief executive said: “We look forward to welcoming Holger as our new chairman as he assumes more responsibility in the company. Having worked with Kleinwort Benson in London for seven years and been a director on the board for over a year, Holger knows Kleinwort Benson very well.  He comes to us with a wealth of knowledge and experience in the industry and his talents will be a great asset as we continue to develop our business.”

Kleinwort is owned by Germany’s Dresdner Bank. Last month, Allianz, the owner of Dresdner, said it was selling the Frankfurt-listed bank to German rival Commerzbank for €14.2 billion. Sources familiar with the matter told WealthBriefing that the German transaction is unlikely to cause job cuts or dramatic restructuring of the veteran UK bank. Kleinwort Benson traces its history back to the 1780s. It has offices in the UK and Channel Islands.