Strategy
Kleinwort Benson's Name Remains As German Parent Rebrands Units
A rebranding move by Germany’s Commerzbank of all its investment banking activities will not affect its UK private bank, Kleinwort Benson, the firm has confirmed to WealthBriefing.
Kleinwort Benson, a wealth management firm tracing its origins to the 19th century, is being put up for sale by Frankfurt-listed Commerzbank. The German bank acquired the UK business when it purchased Dresdner Bank from Allianz, the German insurance and financial services group, last year.
“We would like to stress that Kleinwort Benson, the private bank, is unaffected by the rebranding and the name will remain a feature of the UK private banking and wealth management scene at least until the sale process instigated by Kleinwort Benson's owner, Commerzbank, has concluded,” a spokesperson told this publication in an emailed statement.
From today, the name Commerzbank will be used for all the investment banking businesses of the German bank.
