After a four-year gap Dresdner Kleinwort Wasserstein (DrKW) is back in favour with Somerfield, the UK food retailer, as the new joint financial adviser and broker to the company.

Kleinwort Benson, which later became Dresdner Kleinwort Benson and then DrKW, was bookrunner on Somerfield's flotation in 1996. The initial public offering price was cut by about 25%, for which Kleinwort Benson was widely blamed.