Dresdner Bank is reorganizing its U.S., Canadian, and Mexican operations under a single management to reduce costs, improve distribution, and keep pace with market integration in North America, the bank's chairman said Thursday.

The reorganization will bring Dresdner's Canadian banking subsidiary, U.S. commercial banking branches, and its investment banking unit, Dresdner Securities (USA) Inc., under a single holding company. Individual North American operations will now report to New York, rather than Frankfurt.

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