Herbert Walter new Chairman of the Board of Managing Directors

Karl Ralf Jung and Andrew Pisker
appointed to the Board

The Supervisory Board of Dresdner Bank made the following executive appointments at its extraordinary meeting today.

Dr. Herbert Walter, 49, was appointed as Chairman of the Board of Managing Directors with immediate effect. He succeeds Dr. Bernd Fahrholz, 55, who had asked the Supervisory Board to relieve him of his responsibilities before the end of his term of office. The Supervisory Board complied with this request with today’s re­solution.

Walter commented on his appointment as follows: “I am looking forward to the challenge of further developing Dresdner Bank as an independent brand and the core banking competency within the Allianz Group.”

In addition, the Supervisory Board has appointed the two current co-heads of the Corporates & Markets division as full members of the Board of Managing Directors. The two men will share responsibility for the division at Board level with immediate effect.

Andrew Pisker, 42, is Chief Executive Officer of Dresdner Kleinwort Wasserstein and responsible for Corporates & Markets’ investment banking activities.

Karl Ralf Jung, 41, is Chief Executive Officer with responsibility for Corporate Banking, and hence for business with large enterprises, groups and multinationals within the Corporates & Markets division.

Supervisory Board Chairman Dr. Henning Schulte-Noelle thanked Bernd Fahrholz for his many years’ service to the Bank and his commitment in a difficult market environment. As a result, Fahrholz had made his mark in the history of Dresdner Bank, he said.