Roughly 150 staff in Dresdner Kleinwort’s equity research and cash equities business felt the brunt today of the latest integration-related changes by new owner Commerzbank, which effectively involve ceasing coverage and trading of UK equities as it retrenches to a German-focused business model.

The staff are among about 1,500 employees that Commerzbank has previously announced will be cut from the combined investment banking business as it integrates Dresdner Kleinwort. They are understood to be on paid leave from today until the end of a consultation period at the end of March.