David Barclay has been appointed chairman of Dresdner Kleinwort Wasserstein's corporate finance activities as part of an integration process that includes investment banking, debt and equity capital markets.

Barclay, a well-known DrKW corporate financier who effectively replaces the recently departed Tim Shacklock, will chair the corporate finance and advisory business. He remains a vice-chairman of DrKW, the investment banking arm of Allianz-owned Dresdner Bank.