Dresdner Kleinwort Wasserstein has dropped the moniker of its former executive chairman, Bruce Wasserstein, four-and-a-half years after he left as part of a wide-ranging restructuring by its parent, German insurer Allianz.

The reorganisation will see 2,480 middle and back-office jobs cut at Dresdner Bank by 2008, half of which will be in processing and half in central and regional management functions.