German giant Commerzbank, which is about to complete its sale of Kleinwort Benson Private Bank, has filed a lawsuit against a former staffer who has set up a number of companies using the Kleinwort name, according to Reuters.

Robert Pasley-Tyler, who worked for the business for 18 years, has been registering dormant companies and web site names under Kleinwort-related names since 2003, the report states.

Unnamed sources have told Reuters that Commerzbank has sent "cease and desist" letters demanding that the names of the companies be changed.

Commerzbank is selling Kleinwort Benson Private Bank to Belgian investment company RHJ.