Dresdner Kleinwort Benson has lost Rudolf Vossen, the head of the team running Neuer Market share sales, and 10 of his 24-member team to JP Morgan.

The loss of Vossen's Frankfurt-based team comes at a precarious time for Dresdner. The Neuer Markt appears to be set for a rapid expansion following the planned joint venture with the London Stock Exchange's TechMark and Nasdaq, that will eventually see all of the LSE's high growth shares listed in Frankfurt. Dresdner will have to work especially hard to replace Vossen's Neuer Markt IPO experience.