P.M. BRIEFING : West German Bank Moves East
Dresdner Bank, West Germany’s second-largest commercial bank, announced plans today to open an office in Dresden, the East German city where the bank was founded more than a century ago.
“The key to success of economic restructuring in East Germany (lies) in a transfer of capital, technology and management know-how from Western industrial nations,” it said.
The bank was founded in Dresden in 1872. Although its management was shifted to Berlin in 1884, Dresden remained the bank’s legal headquarters until 1950. The official headquarters has been in Frankfurt since 1957.
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