British brokerage Collins Stewart is considering an acquisition of the UK advisory, capital markets and equity trading businesses of Dresdner Kleinwort, the Financial Times reported said.
Yesterday, Commerzbank outlined its plans to cut 9,000 jobs and shrink investment bank Dresdner Kleinwort to a rump after buying Dresdner Bank for €9.8 billion.
Dresdner Kleinwort's UK capital markets and equity trading businesses would fit well with the core Collins Stewart broking business, while the advisory side would bolster its Hawkpoint corporate finance unit, the paper said.
Collins Stewart is itself reportedly in talks about a takeover by Japanese securities group Nomura Holdings Inc, so any approach for another company could be deemed to be a frustrating action.
Nomura could, however, back such a deal or even leapfrog Collins Stewart and go directly for a deal with Dresdner Kleinwort itself, the report said.
Kleinwort Benson was bought by Dresdner in 1995, which later dropped the Benson name from the investment bank.