NEW YORK - Dresdner Bank AG said Thursday that it had completed its purchase of Wasserstein Perella Group Inc.

The German banking company agreed in September to pay $1.37 billion of stock and set aside $190 million for retention bonuses for staff at Wasserstein Perella, an investment banking boutique majority-owned by Bruce Wasserstein, who co-founded the firm 12 years ago.

Wasserstein Perella is being absorbed by Dresdner Kleinwort Benson, the German banking company's investment banking arm, which will change its name to Dresdner Kleinwort Wasserstein.

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