Dresdner Kleinwort Wasserstein (DrKW) is understood to be hiring as many as 22 members of Deutsche Bank's securities lending team for a new venture.

DrKW declined to comment. A spokesperson for Deutsche Bank in London only confirmed that 11 members of the 240-strong securities lending team globally were leaving, but denied rumours that the bank is pulling out of third-party lending.

Niki Natarajan

Deutsche Bank

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Deutsche lending team to join Dresdner

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