CFP's 20-Member IT Team Defects To Dresdner Bank, Shocks Commerzbank
SPECIAL REPORT
FRANKFURT--The technology department of Commerz Financial Products (CFP), the Frankfurt-based derivatives trading subsidiary of Commerzbank, resigned their posts last Thursday.
CFP's 20-strong IT team will be moving en masse to Dresdner Bank, in what industry observers say may be the largest team defection in the history of financial technology.
Sources say the mass walkout is the result of a meltdown in the relationship between CFP's technologists and those of its parent bank. "We could see no
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