Corporates and markets, the business unit comprising Dresdner's investment bank and German corporate bank, posted an after-tax loss of €116m ($106m) in the first quarter as weak earnings from the markets and loan loss provisions outweighed cost savings.

Allianz, Dresdner's parent that reported a jump in first quarter profits thanks to sales from industrial holdings, said that its overall banking business lost €149m before taxes and amortisation of goodwill, or €126m afterwards. Dresdner Bank reported on Friday that the loss became a €1.42bn pre-tax profit thanks to share disposals.

Dresdner's corporates and markets unit loses €116m in Q1

Piers Townsend

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

Senior GIC private equity lawyer joins Dechert in London

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Trump Calls on Goldman to Replace Economist Over Tariff Stance

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A weekly call turned into a celebration of heroes as staffers comfort one another through lingering trauma.

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