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  1. Wealth
May 12, 2009

Bloomberg: Bidders for Kleinwort Benson mooted

By Spear's

May 11 (Bloomberg) — Commerzbank AG is likely to sell its Kleinwort Benson Private Bank unit to Schroders Plc, Standard Chartered Plc or Royal Bank of Canada, the Wall Street Journal reported, citing investment bankers it didn’t name.

May 11 (Bloomberg) — Commerzbank AG is likely to sell its Kleinwort Benson Private Bank unit to Schroders Plc, Standard Chartered Plc or Royal Bank of Canada, the Wall Street Journal reported, citing investment bankers it didn’t name.

Standard Chartered declined to comment and RBC was unavailable, while Rob Taylor, Kleinwort Benson Private Bank chief executive, said the company has “a road map to achieve better returns, based on efficiencies and market recovery,” according to the report.

To read the full story, visit bloomberg.com

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