Dresdner Kleinwort Wasserstein has hired a three-strong team from SEB Merchant Bank as part of an effort to combine part of its foreign exchange sales and trading businesses in London.

The new sales and trading team will be led by Sultan Lone, who was previously a director in the financial institutions group at SEB in London. Jason de Clerk, who was a foreign exchange salesman at SEB, and Jason Everitt, who covered foreign exchange trading, have also left the Scandinavian banking group's financial institutions team to join DrKW.