Steven Berger has resigned as head of corporate finance and origination at Dresdner Kleinwort Wasserstein, the investment banking arm of Allianz, the German insurance giant.

According to senior sources within DrKW, Berger quit last week amid continuing frustration at Allianz's refusal to give clarification about whether it planned to sell DrKW, commit financially to its future, or allow the bank to pursue its independence.