Executive Confirms Dresdner Pursuit

Brazilian banker Luiz Cezar Fernandes says he is indeed in talks to acquire Dresdner’s LatAm investment bank from Commerzbank. While declining to provide further details, he tells LatinFinance reports citing his discussions and the potential price tag of $90m-$100m for the unit are correct. Fernandes, which co-founded Garantia and Pactual, which were sold to Credit Suisse and UBS respectively, is among Brazil’s legendary bankers, but today spends most of his time on a farm in the north of Brazil where, among other things, he raises sheep.