Southpaw - Dresdner Kleinwort: just a piece of baggage on the platform

Merger negotiations between Commerzbank, Dresdner Bank and Dresdner’s parent Allianz are intensifying. But the once mighty Dresdner Kleinwort investment bank has no seat at the table and is marginal to the main discussions. As David Rothnie writes, the firm may be entering its last months, in a process that is out of its control.