Jan Kvarnström, who has been hired by Dresdner Bank to wind down its bad loans and non-core lending book, has been appointed to the board of managing directors.

Kvarström runs the institutional restructuring unit, into which Dresdner put non-performing loans and those considered 'non-strategic'. The bad loans have contributed significantly to the bank's losses this year and it hopes that moving them into a separate 'work-out' unit - as part of an effort to help the bank return to profitability.