China Guangdong Nuclear Power Fund Management, Youre viewing 10 of 165 services to companies. In 1978, Dresdner had officially become one of the ten largest banks in the world. Previously, Shiv worked in the Mergers & Acquisitions divisions of JP Morgan and Dresdner Kleinwort in London and New York. As one of the privileges of leadership, Hermann Goering was allowed to have a company of his own, Goering Werke, an iron ore processing works whose products were in heavy demand during the Nazi war buildup. We offer cross-border mergers & acquisitions, debt & equity capital raising, and corporate finance advisory services in the Technology and Consumer sectors. Also, Dresdner and the other big banks carried too much foreign credit. [40], RHJ International became "BHF Kleinwort Benson Group" in March 2015[41] and was acquired by Oddo & Cie in early 2016. Dresdner was not exempt. Formerly the Global Head of Fixed Income, Currencies and Commodities at both ANZ Bank and Dresdner Kleinwort, the investment banking division of Allianz, and responsible for managing teams comprised of over 2000 staff, he has an exemplary track record in risk management, identifying value opportunities & building high-performance teams. This stifled the basic expansionist impulse of the bank and cut off investment revenue. Dresdner did benefit somewhat, however, from the government's plan to restructure the banks and keep credit rates down by buying up banks and giving them cash. While remaining a partner with EMA, he became a Senior Investment Partner with Global Environment Fund in Washington DC. [12], In the 1980s, Kleinwort Benson was a pioneer in privatisation. [25], In December 2008 Commerzbank, which was in the process of acquiring Dresdner Bank,[26] decided to close Dresdner Kleinwort's Mergers & Acquisitions Unit. Dresdner Kleinwort Investment Banking Follow About us Created in 2000 through the merger of Dresdner Kleinwort and Wasserstein Perella. Dresdner Kleinwort caters to corporate, finance, telecommunication, media, technology, energy, power, and retail sectors. In 2003 Dresdner's chief executive Bernd Fahrholz resigned and was replaced by Herbert Walter. A syndicate of 14 old-line merchant banks, which was led by Hambros and Lazard Brothers and included Robert Benson Lonsdale, came to the aid of British Aluminum. [15] It went on to advise the British Government on the sale of 50.2% of British Telecom, the largest ever share issue at the time, in 1984. The Great Aluminum War altered merchant banking by turning mergers and acquisitions into a high-profile, high-profit business. In 1937 Dresdner was able to buy itself back from the government. Nonetheless, Kleinwort Benson's share of the British equities market remained at 5 percent in 1989, not enough to put it in the front ranks of Britain's securities firms. Langham will evaluate the deal and provide a valuation range using variables from both macro and micro levels. Hugh has 30 years of experience in finance and investment banking, based in New York, Tokyo, London and Frankfurt, and for the past 10 years focusing on transactions in India. Our colleagues at Financial News scoured the U.K.'s regulatory register for details of the 72 former Dresdner Kleinwort fixed income traders who Tuesday filed for a total of 34 million ($49 . Allianz had long sought to establish itself not just as an insurance company, but as a global financial services provider along the lines of Citigroup. Mr. Wright has advised and/or sat on the boards of other institutions, including Hansa Capital LBG, CdB Webtech SgR,), Artio Global Investors Inc, Surya Capital LLP, GP Investimentos SA, and IDeA Alternative Investments SpA. He joined Kleinwort Benson Limited in London in 1978 and in 1981 co-founded Kleinworts first office in California. He was until 2014 non-executive Chairman of Maxcess International Corporation (a US based industrial controls business), and a founding board member of IDOX Plc (AIM), a leader in e-government software in the UK. [20], In 1995, Kleinwort Benson was acquired by Dresdner Bank and, as Dresdner Kleinwort, became its investment banking arm. World War I and its aftermath were a disaster for almost every company in Germany. [34], In September 2009 Commerzbank decided to abandon use of the Dresdner Kleinwort name[35] and, in October 2009, sold the firm, by then renamed Kleinwort Benson, to RHJ International. Henry has many years of management consulting and entrepreneurship experience, with deep knowledge in enterprise management, operation and governance. Kleinwort could trace its roots to 1838, when a Hamburg shipping clerk named Alexander Kleinwort immigrated to Cuba and joined a Havana trading company run by James Drake. The combination created Dresdner Kleinwort Wasserstein (DrKW), the seventh-largest corporate merger advisor in the world. [3] Edward Cohen and James Drake joined the firm in the 1830s and for a while it was known as Drake, Kleinwort and Cohen; it was then renamed Kleinwort, Sons and Company in the 1880s. Nonetheless, Kleinwort Benson survived the crisis in better shape than its competitors. In 1995, Dresdner spent about $1.58 billion to acquire the British investment bank Kleinwort Benson Group PLC. A month later Kleinworts agreed another loan of 1,500,000 pounds sterling at 3%. The merger fell through, however, after it became apparent that DKB would be carved up as a result of the deal. Deutsche Bank wanted Dresdner to jettison its investment banking arm, Dresdner Kleinwort Benson; Dresdner refused, making itself "a takeover candidate more than ever," according to the April 10, 2000, Wall Street Journal. We help clients in preparing documents at all stages including non-disclosure agreements, letters of intent and definitive transaction documents. Contact. Dresdner Kleinwort Capital's growth plans include the [] Kleinwort Benson was a leading investment bank that offered a wide range of financial services from offices throughout the United Kingdom and Channel Islands. Kleinwort Benson's 1984 annual report spoke of the firm forming a "global chain." "The upshot is that the German and European banking landscape will look substantially different from today," Dresdner Chairman Wolfgang Rller told the Wall Street Journal in 1990. Kleinwort Benson was a leading investment bank that offered a wide range of financial services from offices throughout the United Kingdom and Channel Islands. Hugh was a journalist in 1977-1986 for The Economist, as the magazines Tokyo correspondent, World Business Editor in London and finally New York correspondent. All rights reserved. Nonetheless, the firm suffered no permanent damage from the war, and even had slightly more capital in 1918 than it did in 1913. We manage the negotiation process towards closure by setting and monitoring the timetable, taking each step forward towards completion and liaising closely with the other parties involved in the transaction. He was a director at CirclePlusInvest, in charge of investment and post-investment management. The firm provides mergers and acquisitions, strategic alliances, equity and debt underwriting, sales and trading, derivatives, equity research, and valuation services. Christopher Wright is Chairman and a co-founder of EMAlternatives LLC in Washington DC and of its former affiliate in China, Yimei Capital Ltd, and is also a director of Merifin Capital Group, a private European investment firm. As it turned out, however, the year of the Big Bang was not entirely kind to Kleinwort Benson. Immediately prior to founding Langham Capital, Shiv managed two technology ventures in Europe. The assassination cut short the life of the man who had headed Dresdner since 1969 and had been instrumental in turning the firm into an international business powerhouse. He left the bank to work at various credit-focused hedge funds before leaving to manage his own capital.He is a graduate of the University of Waterloo with a Bachelor of Mathematics (Honours Actuarial Science/Finance Option Co-operative Program). Mr. Wright has been a director of Merifin Capital NV, a private European family owned investment firm since 1987. It was one of the few British securities firms that made a profit on equities dealing in late 1987 and early 1988. Each of the three derivative banks prospered so much as a part of the "economic miracle" of the 1950s that Dresdner was allowed to recombine itself again in 1957 as Dresdner Bank A.G., with its new headquarters in Frankfurt am Main. Currently, he is also an Adviser to AfricInvest, a pan-African private equity firm. Copyright 2023 Calderwood Capital Research Ltd is an appointed representative of Messels Ltd which is authorised and regulated by the UK's Financial Conduct Authority (FCA). Dresdner Kleinwort Wasserstein (DrKW) operates as the investment banking arm of Germany's Dresdner Bank AG. In 1884 Dresdner Bank moved its headquarters from Dresden to Berlin and then spent the rest of the decade expanding even more vigorously. As a result, merchant banks had to diversify and shuck their traditional specialist status. The Depression proved disastrous for many British merchant banks, slowing foreign trade to a virtual standstill. By 1959, Kleinwort had recovered 2 million. Both Dresdner and Allianz have suffered since this merger because of problems with Dresdner's investment bank business, Dresdner Kleinwort Wasserstein. We also work selectively with early stage companies to raise venture funding. Soon thereafter, Dresdner began merger talks with Commerzbank AG, the second largest bank in Germany, though these negotiations were also scuttled. A representative of Dresdner, Karl Rasche, sat on the management board of a subsidiary of Goering Werke. After 1945, the destruction of the German economy, the loss of prewar loan records, and the fact that Soviet Union did not want to see money repaid to Western bankers from its zone of occupation complicated the matter of settling the debts. In the early years of the 20th century Dresdner's continuous expansion made it a true giant of German industry. When Kleinwort and Robert Benson Lonsdale merged in 1961, The Economist described it as "a marriage of essentially complementary partners." When the effects of the American stock market crash of 1929 hit Germany in 1931, there was little cash on hand to pay investors. [37], In November 2011 Saffron Tax Partners announced the acquisition of the private client tax compliance business from Kleinwort Benson. Vikram has over 20 years of experience as a strategic and financial adviser to clients worldwide. [22] The Frankfurt branch of the bank was instrumental in initiating trading in emissions credits in 2003. Dresdner and its rival Deutsche Bank both rushed to capture this new market, forming joint ventures with Deutsche Kreditbank outlets. It managed the reprivatisation of British Aerospace, the first of the British Government's programme of disposals in 1981. The Kleinwort Benson Group, the largest of a fast-dwindling corps of independently owned British investment banks, said today that it was negotiating to be acquired by Dresdner Bank A.G. of . Christopher Wright is Chairman and a co-founder of EMAlternatives LLC in Washington DC and of its former affiliate in China, Yimei Capital Ltd, and is also a director of Merifin Capital Group, a private European investment firm. Dresdner Kleinwort offers investment banking services. At the high point of economic chaos, in 1923, Dresdner held assets of 204 trillion marks. Andreas T. Angelopoulos has more than 30 years of experience in private equity, asset management, investment banking and engineering. Shiv began his career with the Tata Group of Companies in India. The Rt. He advised on strategy and funding, with a view to introducing these companies to international best-practices in management and finance. He is also a Visiting Senior Fellow at the LSE IDEAS diplomacy and strategy think-tank at the London School of Economics. DRESDNER KLEINWORT, COMMERZBANK AG New York, NY Analyst, Foreign Exchange Sales July 2008 - August 2009 Dylan started his career at Dresdner Kleinwort Benson in 1997 in the Quant, Strategy and Economics group before moving to Socit Gnrale's highly regarded global strategy team. Late in 1987, Kleinwort Benson sold a 1.5 percent stake to Sumitomo Life Insurance, and Consolidated Gold Fields bought a 50 percent interest in Kleinwort Benson Energy. European banks were eager to combine so that they could compete more effectively with American mega-financial institutions, like Citigroup Inc., which offered a panoply of services to their corporate clients and were making headway in European markets. The Big Three of Berlin (now Dresdner, Deutsche, and Commerzbank) had lost 1.3 billion marks in assets and capital in the previous two years. Henry developed domain knowledge and personal network in TMT, Energy, Consumer and Financial Industries. Rehabilitation and Recovery After World War II. Also in 1984, Kleinwort Benson Australia acquired a 50 percent interest in Australia Gilt Company Group, a dealer in Australian government securities. Mr. Morriss has spent over 20 years in private equity. [27] Then in March 2009 it became clear that the office in Japan would close. The London branch was especially significant for the bank because London was the financial center of the world at that time; it gave the company 19 highly profitable years before the onset of World War I. [17] Important private sector transactions at that time included the takeover of Harrods by the Fayed brothers in 1984. and holds a Certified Diploma in Accounting and Finance (from ACCA). Dresdner also bolstered its U.S. position by purchasing several seats on the New York Stock Exchange, and in 1993 made its first public offering there. [39] The bank moved to new premises at St George Street in London in 2012. The two German banks were in the final stages of negotiating a merger in 2000, when the deal fell apart. He started his career at Standard Chartered Bank. In 1967, it opened an investment bank in New York, using its strong reputation in the Eurobond market to get underwriting business. The short-lived Weimar Republic (1918-23) was also difficult for Dresdner Bank. Allianz made it clear that it would either split off or scale back Kleinwort Wasserstein. Friderichs's tenure ended in February 1985, when he resigned in the wake of charges that he had accepted a bribe for a favorable tax ruling given to the Flick Industrial Group while he was economics minister. Having spent five years as an investment banker in the UK, he became a partner with Coopers & Lybrand (now PwC) heading up the privatization and M&A groups. At the time, it had 4.4 million in German, Austrian, and Hungarian bills outstanding. Marginal return of capital The LSE share buyback proves that LSE would rather weaken its strategic position through reactive tactics than set out a clear vision for the business. St. James Press, 2004. In 1988, American International Group acquired a 5.3 percent interest in Kleinwort Benson. He also served as corporate manager & board director at PTW Architects firm. Before joining YiMei as an Advisor, Barry was the Managing Partner at GroveStreet, where he still serves as Senior Advisor. [16] It assisted with the privatization of Enterprise Oil in the same year. Isaac has held several positions in various companies, most recently as the Chief Strategy Officer of L&T Technology Services. We pride ourselves on the strength of our relationships, the integrity of our advice and a thorough analytical approach to our work. Kleinwort relocated to London in 1855. [30] Jens-Peter Neumann, former head of Capital Markets sued in Germany in April 2009 for 1.5million in severance pay. Our familiarity with cross border deal structures helps focus on the most effective options to maximise value creation for our clients. Dresdner also continued its pan-European development when it forged an alliance with Banque Nationale de Paris (BNP), one of the three largest banks in France, in 1991. He was in charge of oversea business development & strategy, international business management, international M&A and change management post M&A. [8], Kleinworts and Robert Benson, Lonsdale and Co. merged to form Kleinwort Benson Lonsdale in 1961. He helped these clients with strategic transformation and operation optimization services to improve their competitive advantages. Until March 2007, he spent 19 years at Kleinwort Benson/Dresdner Bank in various roles including derivatives trading, hedge fund management and served as COO of Dresdner . The financial giant pledged to hold onto the unit for two years before considering a sale, giving DrKW and its employees some breathing room for the next 24 months. Dresdner also pioneered the way for foreign stock shares to be traded on West German exchanges at about this time. Engage via Email. German insurance group Allianz has pursued a discriminatory hiring and firing policy at Dresdner Kleinwort, one of London's oldest investment banking businesses, designed to people senior. The domination of the big banks had long fostered a populist resentment, which the Nazis carefully exploited. The firm moved to London in 1852 and gradually began to specialize in investment banking. Additionally, it offers financing and securities management, private placements . Prior to that, Steve served as a design architect in a number of well-known architectural design firms, including Ellerbe Becket, KKE, MH. We see them around but we don't know what goes on behind the scenes. Long considered the most conservative of the "Big Three" German banks, Dresdner's Kleinwort acquisition showed that the company was thoroughly committed to expanding into investment banking, rather than remaining primarily focused on its lower-margin core commercial banking operations. As consumers, we often take for granted all the hard work that goes into building a great company. In 1958, Robert Benson Lonsdale became embroiled in what became known as Britain's Great Aluminum War. Firms with international interests as extensive as Dresdner's experienced crushing setbacks as they lost vast international securities and capital holdings. Since 2016, Andreas is the Chairman and the Chief Investment Officer, Private Markets in Gestron Asset Management investing in private equity and private credit primaries funds, secondaries funds and direct co investments in USA and Europe.<br><br>Before that . learn how over 7,000 companies got started! The 1960s and 1970s were years of fierce activity for merchant banks, marked by increased competition both from foreign firms and from domestic rivals spurred on by a 1971 Bank of England policy statement encouraging looser regulation of British financial institutions. Prior to joining YiMei Capital, Judy served as Director of Strategic Investments at HewlettPackard Company. Judy has more than 20 years of global investment experiences in venture capital and private equity investments ranging from primary fund commitments, direct investments to M&A activities that span across US, Europe, and Asia, particularly in China. Its ability to overcome hardships and the market downturn had secured it a short-term future with Allianz. But Alan Yarrow, who in January became a vice chairman of Dresdner Kleinwort Benson, is an example of the advantages of staying put. In 1968 Dresdner established German-American Securities--now called ABD Securities Corporation--in New York. Hugh has a BA in philosophy, politics and economics from Oxford University, was a Kennedy Scholar at Harvard, and has an MSc in sociology from the London School of Economics. Dresdner Kleinwort Capital is a London-based investment banking firm providing brokerage services for financial and investment products. In New York, it bought ACLI Government Securities Incorporated, a U.S. government securities dealer, from the investment bank Donaldson, Lufkin & Jenrette, renaming it Kleinwort Benson Government Securities (KBGS). Dresdner was delighted that its investment banking arm was included as part of the package. With its place in the securities industry somewhat uncertain, the future of Agnew's vision of Kleinwort Benson as a fully integrated investment bank appeared equally up in the air. Particularly in the wake of the global insecurity caused by the terrorist attacks in the United States on September 11, 2001, investment banking took a beating across the globe, and Dresdner's mergers and acquisitions business dried up. The company operated as Dresdner Kleinwort Benson (DKB) after the 1995 acquisition. In September 2000, Dresdner opted to beef up its investment banking operations again, when it acquired Wasserstein Perella, a New York investment bank that had played an advisory role in the merger of Time Warner, Inc. and America Online, Inc. Wasserstein gave Dresdner a stronger presence in the United States, as well as a boost in its American mergers and acquisitions business. Hugh has worked on transactions in 15 countries. Yet Dresdner Bank was, like Germany itself, impossible to keep down. When the restrictions limiting the three major branches of Dresdner from operating outside of their zones of occupation were lifted in 1963, the domestic business needed to finance foreign expansion was finally available, and the bank started to become the international giant that it is today. Head of Renewable Energy, Head of Utilities Debt Origination, and Senior Project and Acquisition Finance Director at Dresdner Kleinwort. CO-FOUNDER Dylan was formerly Head of Liquid Investments at Calibrium AG, Zurich, where he helped build and establish one of the largest Family Office's in Europe. Contact: Beverley Hunt, Partner Email this Investor. 2023 PitchBook. In 1952 the 11 regional banks were turned into three successor institutions of Dresdner Bank. This hurt Dresdner even more than had the lack of expansion during the war years. In 1929, the economy's volume of business was 50 percent greater than it was before the war. Hon the Lord Lilley is a British Conservative Party politician who joined the House of Lords in June 2018. Most recently at Dresdner Bank, he was a Director in the Institutional Restructuring division, where he was responsible for the sale of NPL portfolios and non-core holdings. The Liquidation Commission was formed by the occupation forces to study the roles that various companies and industries had played in the war economy of Nazi Germany. This was clarified to mean that Front Office staff would receive 10% of the bonus promised in December 2008 but support functions would receive their full bonus. Kleinwort Benson was formed in 1961 when the firm of Kleinwort, Sons & Company merged with Robert Benson, Lonsdale & Company Limited. . The 22 companies are mainly US-based and operate in a range of business sectors. On top of this was the Allies' insistence that all Allied countries be given the right to confiscate any German private property abroad. [14] It next advised on the privatisation of Associated British Ports in 1983. We are an advisory firm specialised in in mergers and acquisitions and corporate finance with more than 25 years of experience. [33] Additional cases were brought by Dresdner Kleinwort executive committee members John McIntyre, Bertrand Pinel and Alberto Piedra in August 2009 seeking 11million. Angel, Fund of Funds, Venture Capital), This describes the stage of investments made by this organization (e.g. Mr. Wright is Emeritus Director of Campbell Lutyens @ Co. Ltd, a leading private equity and infrastructure focused investment banking firm based in London. Prior to this, he was the EVP and head of the Product Engineering Services division managing worldwide sales and delivery and was also the CEO of GDA Technologies which was acquired by L&T. Barry served as Senior Investment Officer responsible for Alternative Investments and Private Equity placements where he undertook direct private equity, mezzanine debt and partnership transactions. Christopher Wright is Chairman of EMAlternatives LLC in Washington DC, an emerging markets focused private equity asset management firm, and a director of Merifin Capital Group, a private European investment firm. Kleinwort Benson recognized early on that the future of merchant banking also lay over the seas. In Chicago, it acquired the institutional and funds operations of Virginia Trading Corporation, a futures brokerage. In his first year in charge, earnings rose 18 percent and assets 8 percent, to DM 189 billion. Thanks to the integration of the world's financial markets, the American stock market crash of 1987 was felt around the world. Isaac earned a Bachelors degree in Electrical Engineering from the University of Madras, a MS in Electrical and Computer Engineering from Florida Institute of Technology, and a MBA from Arizona State University. Address: Jurgen-Ponto-Platz 1 60301 Frankfurt Germany Telephone: 49-692-630 Fax: 49-692-63-4831 http://www.dresdner-bank.com Statistics: Public Company Incorporated: 1872 as Dresden Bankhaus Employees: 48,455 Total Assets: $448.81 billion (2002) Stock Exchanges: German Ticker Symbol: DRB Dresdner Kleinwort Capital is a London-based investment banking firm providing brokerage services for financial and investment products. Prior to L&T, he served as the CEO of Codenomicon, a Finnish security software company (acquired by Synopsys). Phone Number +49 69 740987 Dresdner Kleinwort advise clients, provide financing and supply liquidity. He managed M&A, privatization, equity raising and private equity transactions for global clients in a number of markets and jurisdictions including the UK, Europe, US, India, South Korea, Russia, Kazakhstan, Saudi Arabia, UAE and Brazil. Lambert founded the Leveraged Finance Group at Dresdner Kleinwort where he led the effort to integrate the institution's private equity sponsor driven M&A practice with its leveraged finance capabilities. Until mid-2003, he also served as Head of Global Private Equity of Dresdner Kleinwort Capital and was a Group Board Member of Dresdner Kleinwort based in NYC, London and Frankfurt having joined Kleinwort Benson in 1978. Dresdner Bank, as the fattest financial goose among the banks, was the chief target for total and irrevocable nationalization. Some of these moves worked well; others did not. Reynolds finally won, acquiring 80 percent of British Aluminum stock by early 1959. Before focusing on India, Hugh was managing director and head of the telecommunications practice at Dresdner Kleinwort, where he had earlier specialized in merger and acquisition and financing transactions for energy and utility companies, with a focus on the UK, Germany and Russia. Rather than forcing Dresdner to sell the investment bank (an obstacle in prior merger negotiations), Allianz created a new corporate and market division under the leadership of Kleinwort Wasserstein. Dresdner Kleinwort, the corporate and investment banking unit of Germany's Dresdner Bank, could seek to raise capital from external partners, including financial institutions in the Middle East . No matter what its future held, Kleinwort Benson deserved credit for its ambitious program of expansion and diversification in the 1970s and 1980s, which recalled the golden age of the British merchant banks. In the first decade of this century, Dresdner formed a community of interest with Schaffhausenschor Bankverein in 1903, opened stock companies to start trade with Asia and South America, formed 27 branches through absorption of smaller banks, and formed an alliance with the American bank J.P. Morgan and Company to engage in international finance. Dresdner Kleinwort Wasserstein has moved its Tokyo-based Asia ex-Japan credit derivatives trading operation to Singapore as part of an on-going effort to build its capital markets presence in. We see them around but we don't know what goes on behind the scenes. Hans Friderichs, a former economics minister, was Ponto's eventual replacement. Its securities business lost more than 45 million, reducing the bank's overall pre-tax profits to 17.7 million that year as compared to 51.6 million in 1987. Dresdner renamed its investment banking operations Dresdner Kleinwort Wasserstein. They needed foreign capital coming in to pay the interest. Earlier, Barry worked at the Federal Reserve Bank of New York. Moving to the US with PwC in 1992, he was a senior partner in M&A. Source: International Directory of Company Histories, Vol.60. In September 2012, it announced that it had reached agreement with Deutsche Bank for Kleinwort Benson to acquire BHF Bank for 384 million. Mr. Lambert serves as a member of Vine's investment committee and is a Board member of Village Roadshow, a Vine portfolio company. Henry has also founded a start-up technology company which was funded by a famous VC in Shanghai. As Dresdner had always been a huge success in international business and its partner had long shown a genius for domestic banking, the alliance was a natural one, and the standings of both firms increased greatly as they shared profits and policies. The earliest known Kleinwort to go into banking was 24-year-old Heinrich Kleinwort, a grandfather of Sir Alexander Drake Kleinwort, 1st Baronet. 57. Previously, he was a Member of Parliament from 1983 to 2017.

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