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CBA forms German alliance

CBA forms German alliance

(23 October 2007 – Australia) The Commonwealth bank and Germany’s Dresdner Kleinwort have agreed to a strategic arrangement to provide corporate clients with a recommended supplier in each country. The CBA deal with Dresdner Kleinwort, the investment banking division of Dresdner Bank AG, will see both banks act as a ‘recommended supplier’ for respective customers looking to bank in either Australia or Germany.

Stephen Holden, general manager, Working Capital & International Finance, CBA, said that while it is not an exclusive arrangement, it complements other CBA corporate referral arrangements across the globe.

He added that CBA can now offer their clients the services of Dresdner Kleinwort, thus providing improved market access.

Manfred Fleckenstein, head of Global Cash Management at Dresdner Kleinwort said that the agreement strengthens their position as a provider of tailored global cash management solutions.
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