Dresdner Kleinwort offers investment banking services. . He worked on the prop desk for 11 years, moving up to the position of Director, trading convertible bonds, credit default swaps, corporate bonds, and various other derivatives. Kleinwort Benson was a leading investment bank that offered a wide range of financial services from offices throughout the United Kingdom and Channel Islands. Previously, he was a Member of Parliament from 1983 to 2017. 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. Dresdner Kleinwort/New York NY. The Economist summed up the company's problems in an August 2002 article, stating, "In the past year almost one-fifth of Dresdner's revenues have crumbled away. Source: International Directory of Company Histories, Vol.60. Additionally, it offers financing and securities management, private placements . Dresdner became involved in yet another deal later that year. General corporate finance advisory work undertaken by Langham Capital includes advisory work (valuation, due diligence, structuring and negotiation), private placements, joint ventures, restructurings, spin-outs, and management buy-outs. Until mid-2003 he served as Head of Global Private Equity for Dresdner Kleinwort Capital and was a Group Board Member of Dresdner Kleinwort. 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. Allianz AG, a large German insurance group, made a $22 billion play for Dresdner, adding it to its arsenal in late 2001. In Los Angeles, it purchased the services of a group of brokers specializing in interest-rate swaps and renamed it Kleinwort Benson Cross Financing. Firms with international interests as extensive as Dresdner's experienced crushing setbacks as they lost vast international securities and capital holdings. 4/30/2023 2:00 AM. Vikram has over 20 years of experience as a strategic and financial adviser to clients worldwide. Both Dresdner and Allianz have suffered since this merger because of problems with Dresdner's investment bank business, Dresdner Kleinwort Wasserstein. [23] In 2004, the Russian government hired Dresdner Kleinwort to value Yukos's Yuganskneftegaz which was later sold to Russian state oil major Rosneft. All rights reserved. Clients include large multinationals, financial sponsors and private companies. The Dresdner Kleinwort 72 - WSJ Principal Competitors: Bayerische Hypo-und Vereinsbank Aktiengesellschaft; Citigroup Inc.; Commerzbank AG; Credit Suisse Group; Deutsche Bank AG. Phone: 442 - 74- 755493 Fax: 442 - 74- 756809 . The firm provides mergers and acquisitions, strategic alliances, equity and debt underwriting, sales and trading, derivatives, equity research, and valuation services. Hugh has worked on transactions in 15 countries. Dresdner also planned to add 150 of its own branches in the former East Germany in 1991. Currently, he is also an Adviser to AfricInvest, a pan-African private equity firm. [13] It also managed the flotation of Cable & Wireless in the same year. By the end of the century, the Bensons had scored a major prestige coup by providing capital for the railroad construction boom in the American West. Dresdner Kleinwort Capital - Web3 Crypto Company Profile, Funding Dresdner also expanded through technical innovation, using data processing systems to manage accounts in 1958, becoming the first West German firm to do so. According to the Wall Street Journal, analysts predicted that Allianz would sell off the investment bank as soon as market conditions improved and would require Dresdner to refocus on commercial banking and pension and fund products. In response, Kleinwort joined the industry-wide trend toward raising money for domestic industry in the 1920s. [30] Jens-Peter Neumann, former head of Capital Markets sued in Germany in April 2009 for 1.5million in severance pay. Contact: Beverley Hunt, Partner Email this Investor. Kleinwort's profitable activities in precious metals and foreign currency trading during this decade helped offset these fiascos. Thanks to the integration of the world's financial markets, the American stock market crash of 1987 was felt around the world. . Henry has many years of management consulting and entrepreneurship experience, with deep knowledge in enterprise management, operation and governance. In response to the challenging business environment, DrKW implemented a series of cost-cutting strategies in order to shore up its bottom line. Neil Winward - Managing Director, ORIX Spec.. - ORIX USA | ZoomInfo Janusz Heath | Senior Managing Director | Capital Dynamics Prior to this, he worked in the investment banking and corporate finance division of Credit Suisse, based in Mumbai, Singapore and Hong Kong, and the investment banking arm of Barclays Bank (then known as BZW), based in New Delhi. [27] Then in March 2009 it became clear that the office in Japan would close. 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. The Great Aluminum War altered merchant banking by turning mergers and acquisitions into a high-profile, high-profit business. The war dried up all opportunities for continued expansion and placed a tremendous burden on German industry, forcing it to produce the materials necessary for war on an unprecedented scale. Kleinwort Benson nevertheless remained committed to securities. People: Alan Yarrow - Vice chairman, Dresdner Kleinwort Benson On the other hand, the merger left the future of DrKW in question. With offices in India, the US and the UK, Langham Capital has built a strong global network of senior executives, entrepreneurs, investors, attorneys and advisors, and can execute transactions across all key geographies. Kleinwort Benson - Wikipedia Dresdner Kleinwort Capital appeared to be the VC, which was created in 2001. [2] The merged firm acquired the bullion dealer Sharps Pixley in 1966 thereby securing a seat on the London gold price fixing committee that met twice daily in the offices of N M Rothschild & Sons. Isaac began his career at Intel, managing microprocessor based systems, micro-controller based ASICs, and computer-aided design systems. The Depression proved disastrous for many British merchant banks, slowing foreign trade to a virtual standstill. He was a director at CirclePlusInvest, in charge of investment and post-investment management. Principal Competitors: Allen & Company Inc.; Credit Suisse First Boston Corp.; Lazard LLC. The firm moved to London in 1852 and gradually began to specialize in investment banking. Hans Friderichs, a former economics minister, was Ponto's eventual replacement. Though sometimes criticized for being unusually willing to assume risks, the management team of Dresdner Bank, led especially by Eugene Gutman, quickly made Dresdner the number two financial institution in Germany, behind only Deutsche Bank. [24] In January 2006, the bank became the target of a US$1.4billion class action suit by six employees alleging bias and systematic discrimination against female workers. 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 . Valuation: Valuations constitute a significant part of any transaction process, be it in the nature of an acquisition, divestiture, joint venture, merger, de-merger or the setting up of a new operation. www.dresdnerkc.com. 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. He was primarily responsible for handling commercial and residential real estate development, and designing large international EPC projects with many prominent public works. Shiv began his career with the Tata Group of Companies in India. He is Foundation Fellow, Corpus Christi College, Oxford. 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. [10], The firm decided to enter the securities market buying Charlesworth and Co., a stock jobber, in October 1984[11] and Grieveson Grant, a leading stockbroker, in April 1986. VP to Director and Managing Director at Dresdner Kleinwort, MetLife, GE Capital-Genworth Financial 1998 - 2007 9 years. Dresdner was delighted that its investment banking arm was included as part of the package. Read More . Dresdner earned recognition in 1974 for its adroit handling of the sale of the Quandt family's 10 percent share of Daimler-Benz to Kuwait, the largest deal of the kind at the time. In her earlier career, Judy worked as M&A project manager at PepsiCo, New York. 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. 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. Barry received his MBA from University of North Carolina and BA, Economics from Vassar College. Even worse for Kleinwort, the German government declared a moratorium on the repayment of foreign loans in the wake of that nation's bank crisis of 1931. He is a Non-Executive Director of JPMorgan Indian Investment Trust PLC, and has held Non-Executive Director roles at three other companies in the UK and India. Our familiarity with cross border deal structures helps focus on the most effective options to maximise value creation for our clients. Allianz made it clear that it would either split off or scale back Kleinwort Wasserstein. Mr. Lambert serves as a member of Vine's investment committee and is a Board member of Village Roadshow, a Vine portfolio company. Kleinwort Benson was formed in 1961 when the firm of Kleinwort, Sons & Company merged with Robert Benson, Lonsdale & Company Limited. The merger fell through, however, after it became apparent that DKB would be carved up as a result of the deal. Once again it lost branches and assets to the war's victors. This hurt Dresdner even more than had the lack of expansion during the war years. 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. He served until 2005 on the board of Genaissance Pharmaceuticals (NASDAQ). With offices in India, the US and the UK, Langham Capital has built a strong global network of senior executives, entrepreneurs, investors, attorneys and advisors, and can execute transactions across all key geographies. Dresdner Kleinwort Capital Inc - Company Profile and News Rller's background in securities made him an especially appropriate choice as the banking industry in general, and Germany's in particular, entered an era of decreasing regulation and intensified international competition. Our Team Leon Capital Until mid-2003, he served as Head of Global Private Equity for Dresdner Kleinwort Capital and was a Group Board Member of Dresdner . Judy and her team are keen to assist public welfare programs and make positive contribution to the society. They merged in 1961 to create Kleinwort Benson Lonsdale, later Kleinwort Benson. 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 two companies ironed out the terms of the agreement, completing the $1.4 billion transaction in January 2001. 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 Benson In September 2004, Coller Capital's fund acquired a $90 million portfolio of companies from Dresdner Kleinwort Benson. By developing these overseas connections, the bank was able to outgrow its involvement in various consortiums with other banks and became truly international on its own terms again. [25], In December 2008 Commerzbank, which was in the process of acquiring Dresdner Bank,[26] decided to close Dresdner Kleinwort's Mergers & Acquisitions Unit. The third largest bank in Germany and one of the leading international banks in Europe, Dresdner Bank A.G. operates over 1,100 branch offices in 60 nations. The global economic decline and the stock market drops of the early 21st century eroded Dresdner's loan business, as it was forced to write off loans to failing and insolvent companies. 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. The combination created Dresdner Kleinwort Wasserstein (DrKW), the seventh-largest corporate merger advisor in the world. Some of these moves worked well; others did not. We see them around but we don't know what goes on behind the scenes. London, England, United Kingdom Investment Bank Late Stage Venture 147,382 Highlights Investments 6 Exits 4 Funding Round Aug 14, 2001 / and other investors Discover more funding rounds View All Details Industries This stifled the basic expansionist impulse of the bank and cut off investment revenue. New name for Dresdner Kleinwort Capital - buyoutsinsider.com He is Honorary Fellow, Corpus Christi College, Oxford and serves as a member of its Endowment Investment Committee. Dresdner Kleinwort Capital - Crunchbase Investor Profile & Investments Isaac runs the Information Technology practice at Langham Capital. Thomas Wiegand - Cerberus Capital Management Dresdner Kleinwort Wasserstein -- Company History In Chicago, it acquired the institutional and funds operations of Virginia Trading Corporation, a futures brokerage. Its internal restructuring efforts appeared to pay off, and by September 2003 DrKW had reported three consecutive quarters of growth. 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. In 1988, American International Group acquired a 5.3 percent interest in Kleinwort Benson. Dresdner Bank, which had profited by financing the government's astronomical wartime expenses, found that the German economy's unpreparedness for war, coupled with the Allied blockade and the industrial might of the United States, crippled non-military industries. However, the merchant banks' traditional business of raising money for foreign ventures never fully recovered after the armistice, due to informal restrictions on foreign trade and increased competition from banks in New York and other up-and-coming financial centers. [31] Former senior managers Martin Newson, Eduardo Listorti and Michael Adams sued but settled out of court. The German debt problem continued to dog Kleinwort after the outbreak of war in 1939. Hon the Lord Lilley is a British Conservative Party politician who joined the House of Lords in June 2018. [19] In the United Kingdom it advised on Carlton Communications' 723million takeover of Central Television in the same year. As a universal bank, Dresdner Bank was formulated to serve all of the economic needs of its community. In 1952 the 11 regional banks were turned into three successor institutions of Dresdner Bank. Henry Hu is the Partner of YiMei Capital and responsible for all aspects of fund investment and business development. In a career spanning over 30 years, Isaac managed operations in software and hardware products and services, working with mobility, wireless, telecom, networking, storage, security, media and semiconductor industries and emerging technologies. Mr. Wright is Emeritus Director of Campbell Lutyens @ Co. Ltd, a leading private equity and infrastructure focused investment banking firm based in London. [21] It added global reach through the acquisition of the US investment bank Wasserstein Perella in 2001 (from Bruce Wasserstein). Of the four endeavors, the community of interest with Schaffhausenschor increased Dresdner's power the most. Dresdner Kleinwort Wasserstein (DrKW) operates as the investment banking arm of Germany's Dresdner Bank AG. Angel, Fund of Funds, Venture Capital). In the mid-1970s, Dresdner opened representative offices in London, Tokyo, and even Moscow. Following its acquisition by Socit Gnrale in June 2016, it was merged with SG Hambros, already a subsidiary of Socit Gnrale, to form Kleinwort Hambros in November 2016. [9] Kleinwort Benson worked on several major mergers and acquisitions at this time including the merger of Cadbury with Schweppes in 1969. The trouble lies in Dresdner's 'corporates and markets' division, which includes Dresdner Kleinwort Wasserstein." Christopher Wright - Colle Capital He has chaired the investment committees of and/or serves on several advisory boards of third party managed LBO and venture capital funds in North America and Europe and has advised several other financial institutions, including Hansa Capital, CdB Webtech, Standard Bank, Artio Global Investors, Surya Capital, GP Investimentos, ILFS India and De Agostini Alternative Investments on their investments in private equity and other alternative assets around the world, including real assets. Lord Lilley also served as a non-executive Director on boards of several firms, including Tethys Petroleum Ltd., Melchior Japan Investment Trust PLC, Idox PLC and J P Morgan Cloverhouse Investment Trust. Get the full list, Youre viewing 10 of 24 services on a deal sell side. In 1967, it opened an investment bank in New York, using its strong reputation in the Eurobond market to get underwriting business. This was due largely to the capital loans that Dresdner and the other leading banks made to new and developing German industries. 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. In 1988, Kleinwort Benson sold a 25 percent interest in KBGS to Fuji Bank. B-22, Jungpura Extension, New Delhi - 110014, India, 28 Devonport, 23 Southwick Street, London, England, W2 2QF. 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 . Allianz, which already owned 22 percent of Dresdner before the acquisition, saw Dresdner as key to this transformation. People: Voyager Management/Morgan Stanley, JPMorgan/Dresdner Kleinwort The burden of Germany's heavy war reparations stultified the entire economy. In 1968 Dresdner established German-American Securities--now called ABD Securities Corporation--in New York. 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. He has advised on major privatizations, investor relations, mergers & acquisitions, debt restructuring and public offerings for clients such as the Government of India, the Government of the state of Orissa (India), Indian Oil Corporation, the Tata Group, Wipro, rediff.com, Sterlite, EXL Service, Religare and Genpact, while based in Delhi, Mumbai, Hong Kong and Singapore. 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 Capital is the sole private equity business of Dresdner Kleinwort Wasserstein, the investment banking division of Dresdner Bank. [14] It next advised on the privatisation of Associated British Ports in 1983. The domination of the big banks had long fostered a populist resentment, which the Nazis carefully exploited. [8], Kleinworts and Robert Benson, Lonsdale and Co. merged to form Kleinwort Benson Lonsdale in 1961. Copyright (c) 2022 Company-Histories.com. He advised on strategy and funding, with a view to introducing these companies to international best-practices in management and finance. As consumers, we often take for granted all the hard work that goes into building a great company. Phone Number +49 69 740987 Dresdner Kleinwort advise clients, provide financing and supply liquidity. It did so under the guidance of Herman Andrae, Alexander Kleinwort's grand-nephew, who had become a partner in 1907 and whose influence in the firm waxed as that of his aging uncles waned. A global cross-border investment bank providing M&A, capital raise and corporate finance advisory services, Direct presence in the US, the UK, and India, and banking partnerships worldwide, Completed transactions in the US, the UK, Continental Europe, the Middle East, Japan, and India, Specializes in the Technology and Consumer Sectors, Senior bankers with global M&A experience over many years. Mr. Wright has been a director of Merifin Capital NV, a private European family owned investment firm since 1987. 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. Citing the "silent financing" of the German war effort through loans, as well as direct links of the kind previously noted, the Liquidation Commission decided to restructure Dresdner Bank into 11 small banks, each of which could operate only within its own zone of occupation. The resulting Kleinwort Benson Lonsdale held assets of 60 million. Principal Subsidiaries: Dresdner Asset Management GmbH (Germany); Dresdner Assert Management Ltd. (Singapore); Dresdner Bank plc (Ireland); Dresdner International Management Services Ltd. (Ireland); Dresdner RCM Gestion; Dresdner RCM Global Advisors Asia Ltd.; Dresdner RCM Global Investors Holdings Ltd. (U.K.); Dresdner RCM Global Investors LLC; MEIJI Dresdner Asset Management Co. Ltd.; Pension and Compensation Consulting GmbH; ALLAGO AG; Dresdner Bank Lateinamerika AG; Dresdner Bank Luxembourg SA; Dresdner Corporate Finance GmbH; Dresdner Kleinwort Wasserstein Limited (Japan); Dresdner Kleinwort Wasserstein Securities Limited; Dresdner Kleinwort Wasserstein Securities Limited (Asia); Dresdner Kleinwort Wasserstein Securities LLC (U.S.A.). [6], In 1947 Robert Benson and Co. merged with Lonsdale Investment Trust (founded by Leo Lonsdale) to form Robert Benson, Lonsdale and Co.[7] The Benson family interest in the group was watered down but operational control of bank remained with its Chairman, Rex Benson. 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. 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. Re/Unification in the Late 1980s and 1990s. Source: International Directory of Company Histories, Vol. [33] Additional cases were brought by Dresdner Kleinwort executive committee members John McIntyre, Bertrand Pinel and Alberto Piedra in August 2009 seeking 11million. 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. Dresdner Kleinwort Capital is a London-based investment banking firm providing brokerage services for financial and investment products. The 22 companies are mainly US-based and operate in a range of business sectors. A representative of Dresdner, Karl Rasche, sat on the management board of a subsidiary of Goering Werke. Judy holds an MBA degree from the Wharton School, University of Pennsylvania, and a BA in International Economics from Peking University. During this time he executed a variety of transactions in equity capital markets, mergers and acquisitions, privatization, and debt restructuring. The dissolution of economic barriers between European states required German banks to extend beyond their national boundaries. Copyright (c) 2022 Company-Histories.com. 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. Prior to joining us, Janusz was head of Central and Eastern European private equity at Allianz Specialized Investments (formerly Dresdner Kleinwort Capital), having previously been deputy chairman and managing director of PTP-Kleinwort Benson. Dresdner Kleinwort Capital | MyCapital
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