Manjit Boual, co-head of corporate finance at Dresdner Kleinwort Wasserstein (DrKW), is close to resigning after the appointment of Steven Berger, who the German bank has recruited as executive chairman for corporate finance and advisory.

Boual, who runs corporate finance with Robert Pruzan, is thought to be concerned about how her role will change under Berger, who is due to start at DrKW next week while she is on holiday.