Dresdner Kleinwort Wasserstein has helped Portman Building Society buy Sun Bank for £95m (€152m), in the UK building society's first significant acquisition

The Portman acquisition is one of the few times any UK mutual has bought a bank. It bucks a trend of the past five years which has seen a wave of demutualisations among UK building societies. The cash deal is DrKW's first significant advisory mandate for Portman, but the latest ub a string of high profile deals involving mutuals which DrKW has advised on.