As staff at DrKW come to terms with the departure of their old boss, Andrew Pisker, some senior bankers are said to have expressed the view that the firm will have to pay decent bonuses in February if it is to retain key staff.
Stefan Jentzsch, the new head of Dresdner Bank's corporate and investment banking unit, spent Friday in London reassuring DrKW bankers in the wake of Pisker's exit. According to the Financial Times, Jentzsch's visit generally did the trick, and he seems to have been able to convince many key City staff that the recent restructure was not about 'shrinkage or Germanification'. The newspaper did, however, quote one unnamed 'person familiar with Friday's meetings', who said that some bankers had made it clear to Jentzsch that they expected 'fair, well-distributed bonuses' in February if the investment banking unit was to retain key staff.
In the meantime, Pisker is said to be considering his next move, and is believed to have already had a few tentative offers for senior City roles. DrKW's former boss, who had recently signed a 5-year contract with the firm, would not, however, comment on speculation that he had received a $11.6m payoff.