Dresdner Kleinwort | LinkedIn Soon thereafter, Dresdner began merger talks with Commerzbank AG, the second largest bank in Germany, though these negotiations were also scuttled. By the 1780s, they had gone into business in Liverpool as cotton merchants. [9] Kleinwort Benson worked on several major mergers and acquisitions at this time including the merger of Cadbury with Schweppes in 1969. 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.). Before the year was out, the house had sold a 4.9 percent interest to American Can, which sold its shares to Morgan Stanley International several months later. At the high point of economic chaos, in 1923, Dresdner held assets of 204 trillion marks. The company offers its corporate, government, and institutional clients a variety of capital markets products and services, including short-term products and treasury, equity products, rates, credit products, foreign exchange debt origination, sales and marketing, research, risk management, and tax services. 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. Tim was the founder of On Beyond Investing, an investment research firm that looked for value in off-the-beaten-path securities.Tim started his career on the credit products proprietary trading group at TD Securities. This bank crisis necessitated federal involvement: in 1931 the German government took over 90 percent of Dresdner. Structuring: Within the commercial framework of a transaction, a wide range of financing and structuring options are possible. 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. Kleinwort Benson had made the acquisition in order to acquaint itself with price trends and auction techniques in the American treasuries market. Kleinwort Benson Cross Financing proved to be a consistent moneymaker, while KBGS disappointed its parent's expectations. Previously, Shiv worked in the Mergers & Acquisitions divisions of JP Morgan and Dresdner Kleinwort in London and New York. Judy serves as a board member of Shanghai Charity Foundation and United Way China, and also president of the Wharton Club of Shanghai Board. He is a director of Asset Metrix GmbH and insticube GmbH, both B2B software companies in Munich. Dresdner Kleinwort open to tie-ups | Financial Times [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 trend towards consolidation in the European banking industry continued in the late 1990s and early in the new century. In 1986 he relocated to New York to manage the Kleinwort Benson Limited portfolio of North American private equity, high-yield and mezzanine investments. In 1948, Robert Benson & Company Limited merged with Lonsdale Investment Trust, whom it had served as bankers, to form Robert Benson Lonsdale. [8], Kleinworts and Robert Benson, Lonsdale and Co. merged to form Kleinwort Benson Lonsdale in 1961. He serves on the board of the UK charity, The Sutton Trust, and is an Advisory Director of the Scientific Exploration Society in the UK. VP to Director and Managing Director at Dresdner Kleinwort, MetLife, GE Capital-Genworth Financial 1998 - 2007 9 years. We are an advisory firm specialised in in mergers and acquisitions and corporate finance with more than 25 years of experience. Three years later, when the banking industry was stabilized by the introduction of the Rentenmark, Dresdner's share capital and reserves totaled only 100 million Rentenmarks. Our bankers pride themselves on working closely with our clients to provide tailored advice for specific situations. [28] It also became clear that the capital markets and equities units would close and that advisory work would only be undertaken for Commerzbank's German clients. Dresdner Kleinwort Investment Banking Follow About us Created in 2000 through the merger of Dresdner Kleinwort and Wasserstein Perella. In 2001 Dresdner was acquired by Allianz AG, a global insurance provider that saw the takeover as a way of bolstering its financial management arm. Kleinwort took on more domestic underwriting business than it had in the past, but it also embarked on unsuccessful forays into shipbuilding, cotton manufacturing, and fire insurance. A month later Kleinworts agreed another loan of 1,500,000 pounds sterling at 3%. Principal Competitors: Allen & Company Inc.; Credit Suisse First Boston Corp.; Lazard LLC. He received his Master of Architecture degree from University of Minnesota, and his bachelor of Architecture degree from Tsinghua University. Ms. Judy Ye is the Managing Partner of YiMei Capital. Neil Winward's Phone Number and Email Last Update. While remaining a partner with EMA, he became a Senior Investment Partner with Global Environment Fund in Washington DC. Allianz made it clear that it would either split off or scale back Kleinwort Wasserstein. [5], In 1786, Robert Benson, a Quaker, joined with William Rathbone IV of the existing house of William Rathbone & Co. to form Rathbone & Benson, a Liverpool business trading mainly with America. They merged in 1961 to create Kleinwort Benson Lonsdale, later Kleinwort Benson. The European banking sector as a whole began to experience a wave of merger activity in the late 1990s and into the 2000s. Shiv is responsible for managing all aspects of the firm's activities including origination and executing transactions, client relationship management and financial management. Hon the Lord Lilley is a British Conservative Party politician who joined the House of Lords in June 2018. 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. 2022 Langham Capital. The Great Aluminum War altered merchant banking by turning mergers and acquisitions into a high-profile, high-profit business. 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. 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. Dresdner followed suit, engineering an enormous $30 billion deal with Deutsche Bank. Allianz, which already owned 22 percent of Dresdner before the acquisition, saw Dresdner as key to this transformation. We see them around but we don't know what goes on behind the scenes. The fracas started when Reynolds Metals, in cooperation with the relatively new British investment firm Tube Investments, made an unfriendly bid to take over British Aluminum, which was then considering a friendly offer from Alcoa. Seeing the potential for growth in foreign markets, Dresdner began opening interests in Asia and Italy. SaaS, Android, Cloud Computing, Medical Device), Operating Status of Organization e.g. He is a co-founding director of ROPER Technologies Inc. (NYSE); and was a director of IDOX PLC (AIM) until 2013 and non-executive Chairman of Maxcess International Corporation until 2014. The burden of Germany's heavy war reparations stultified the entire economy. Dresdner Kleinwort Capital Inc - Company Profile and News But Dresdner did not prosper under Friderichs for long; his six years in charge were marked by mounting losses and turmoil among executives. In the end, the banks were not nationalized, and Dresdner Bank prospered under state-regulated capitalism. Kleinwort had strong overseas connections thanks to its history of involvement in foreign trade but was weak in corporate finance and investment banking. In the first two cases, the firm found itself with unprofitable investments in failing companies that it was also forced to manage; in the third, it loaned money to insurance entrepreneur Clarence Hatry, only to lose all of it when Hatry was convicted of fraud in 1929. Two years later, Kleinwort Benson entered a consortium with 17 other partners, including Barclays and the Bank of Scotland, to form Airlease International, a company specializing in aircraft leasing. 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). In the mid-1970s, Dresdner opened representative offices in London, Tokyo, and even Moscow. In Chicago, it acquired the institutional and funds operations of Virginia Trading Corporation, a futures brokerage. Allianz announced it would lay off 8,000 Dresdner employees that year, with another 3,000 cuts slated. This stifled the basic expansionist impulse of the bank and cut off investment revenue. In the early years of the 20th century Dresdner's continuous expansion made it a true giant of German industry. But Kleinwort still had sound core businesses and the attractions to Dresdner . Dresdner Kleinwort/New York NY. 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. The two companies ironed out the terms of the agreement, completing the $1.4 billion transaction in January 2001. Its internal restructuring efforts appeared to pay off, and by September 2003 DrKW had reported three consecutive quarters of growth. The Rt. Previously, Neil was a Chief Executive Officer at Sevara Partners and also held positions at Dresdner Kleinwort, Dresdner Kleinwort. In 2002 almost all of Germany's major banks reported their worst losses in the postwar era. Before FTI Consulting, Vikram founded a boutique advisory and investment firm to focus on investing personal and co-investor capital in early-stage and mid-market companies. By investing into new business models and social enterprises, NE aims to provide capital and know-how to such enterprises while generating long-term investment returns which meet both social impact metrics as well as financial benchmarks. [37], In November 2011 Saffron Tax Partners announced the acquisition of the private client tax compliance business from Kleinwort Benson. Dresdner Kleinwort Capital is a London-based investment banking firm providing brokerage services for financial and investment products. In 1978, Dresdner had officially become one of the ten largest banks in the world. Thornton managed about $1.49 billion in mutual funds and pension accounts. Previously, he was the head of sales, marketing and product development in CoWare, a silicon virtual prototyping start-up (acquired by Synopsys). Dresdner Kleinwort Capital. Contact Number (***) ***-**** But Alan Yarrow, who in January became a vice chairman of Dresdner Kleinwort Benson, is an example of the advantages of staying put. 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. Managing Director at Millburn Capital Group and Amper Investment Banking. OCCUPATIONAL DEVELOPMENT 1990 - 1992 Dresdner Bank AG, Frankfurt a.M., Germany, Apprenticeship 1993 - 1995 Dresdner Bank AG, Offenbach a.M., Germany, Customer Consultant 1995 - 1996 Dresdner Bank AG, Frankfurt a.M., Germany, Client Service Officer - Securities Department 1996 - 1998 Dresdner Bank AG, Frankfurt a.M., Germany, Senior CSO<br>1998 - 1999 Dresdner Kleinwort Benson . This hurt Dresdner even more than had the lack of expansion during the war years. Also in 1984, Kleinwort Benson Australia acquired a 50 percent interest in Australia Gilt Company Group, a dealer in Australian government securities. He earned a BA from the University of York (England) and became a Fellow of The Institute of Chartered Accountants in England & Wales. 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. Vikram has over 20 years of experience as a strategic and financial adviser to clients worldwide. He was in charge of oversea business development & strategy, international business management, international M&A and change management post M&A. After World War II, Dresdner and the other large German banks were split up. DRESDNER KLEINWORT, COMMERZBANK AG New York, NY Analyst, Foreign Exchange Sales July 2008 - August 2009 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. 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. [32] Other executives (Areski Iberrakene, Efstratios Hatzistefanis, Kaveh Taleghani and Stefan Guetter) won their bonus suits against the bank in August 2009. He was primarily responsible for handling commercial and residential real estate development, and designing large international EPC projects with many prominent public works. [30] Jens-Peter Neumann, former head of Capital Markets sued in Germany in April 2009 for 1.5million in severance pay. In 2000, the company began courting Wasserstein Perella & Co., an American investment bank founded in the late 1980s by the infamous dealmaker Bruce Wasserstein in conjunction with Joseph Perella. Mr. Morriss has been Treasurer and a member of the Board of The Margaret Thatcher Foundation since 1997. Team - Beechwood Capital Advisors Henry has many years of management consulting and entrepreneurship experience, with deep knowledge in enterprise management, operation and governance. Steve was the vice president of CCDI group, general manager at both of its Sports and Overseas division. Our familiarity with cross border deal structures helps focus on the most effective options to maximise value creation for our clients. Dresdner set out to bolster its international presence by concentrating on developing a global asset-management network. In 1958, Robert Benson Lonsdale became embroiled in what became known as Britain's Great Aluminum War. Also, Dresdner and the other big banks carried too much foreign credit. He also focused on restructuring investments in small-to-medium sized German telecommunications companies for Dresdner Kleinwort Capital, the private equity arm of Dresdner . When Carl Freiherr von Kaskel, Felix Freiherr, and Eugene Gutman opened the doors of Dresden Bankhaus for business in Dresden on December 1, 1872, the time was ripe for new banks in Germany. 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. With the leadership of Judy, YiMei Capital team has built up long-term good relationship with local leading GPs in a decade time, which including: Angel Fund, Venture Capital Fund, Buyout Fund, Mezzanine Fund, Special Opportunity Fund, Real Estate Fund and Art Fund etc. Nevertheless, Kleinwort survived the Depression, while other merchant banks either folded or needed a handout from the Bank of England. 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. Of Dresdner's total of 327 offices, only about half remained open, and most of those were badly damaged. This was not unusual; having representatives on boards and councils, as well as controlling blocks of voting stock shares, were the chief ways that the big German banks exercised economic control. [22] The Frankfurt branch of the bank was instrumental in initiating trading in emissions credits in 2003. Dylan was formerly Head of Liquid Investments at Calibrium AG, Zurich, where he helped build and establish one of the largest Family Offices in Europe.Dylan started his career at Dresdner Kleinwort Benson in 1997 in the Quant, Strategy and Economics group before moving to Socit Gnrales highly regarded global strategy team. 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. As it turned out, however, the year of the Big Bang was not entirely kind to Kleinwort Benson. He helped these clients with strategic transformation and operation optimization services to improve their competitive advantages. Hugh has worked on transactions in 15 countries. Its new-found size and strength stood it in good stead for the hectic times to come. When Kleinwort and Robert Benson Lonsdale merged in 1961, The Economist described it as "a marriage of essentially complementary partners." 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. Who we are - South Andes We pride ourselves on the strength of our relationships, the integrity of our advice and a thorough analytical approach to our work. [27] Then in March 2009 it became clear that the office in Japan would close. 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. 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. Firms with international interests as extensive as Dresdner's experienced crushing setbacks as they lost vast international securities and capital holdings. 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. All rights reserved. Once again it lost branches and assets to the war's victors. We also work selectively with early stage companies to raise venture funding. At the time, it had 4.4 million in German, Austrian, and Hungarian bills outstanding. Angel, Fund of Funds, Venture Capital), This describes the stage of investments made by this organization (e.g. When the Nazis assumed power in 1933, the banking crisis was far from over. Our Team Leon Capital and holds a Certified Diploma in Accounting and Finance (from ACCA). Principal Competitors: Bayerische Hypo-und Vereinsbank Aktiengesellschaft; Citigroup Inc.; Commerzbank AG; Credit Suisse Group; Deutsche Bank AG. 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. Company profile page for Dresdner Kleinwort Capital Inc including stock price, company news, press releases, executives, board members, and contact information On the other hand, the merger left the future of DrKW in question. He quickly became the dominant partner, and by 1883 he and his sons were in sole control of the company and had given it their family name. In May 1988, Dresdner bought a majority interest in Thornton & Company, a leading British asset-management company, to strengthen its presence in that country and also in Asia, where Thornton had a strong position. [14] It next advised on the privatisation of Associated British Ports in 1983. Among the most popular fund investment industries, there are Business Intelligence, Information Technology. Until mid-2003, he served as Head of Global Private Equity for Dresdner Kleinwort Capital and was a Group Board Member of Dresdner . Washington, DC 20549- 1000 Attn: Ms. Nancy M. Morris, Secretary Telephone +1 212 969 2700 w.dresdnerkleinwort.com ViaElectronic Mail Nonetheless, the firm suffered no permanent damage from the war, and even had slightly more capital in 1918 than it did in 1913. The earliest known Kleinwort to go into banking was 24-year-old Heinrich Kleinwort, a grandfather of Sir Alexander Drake Kleinwort, 1st Baronet. 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. 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. We help clients in preparing documents at all stages including non-disclosure agreements, letters of intent and definitive transaction documents. Dresdner and its rival Deutsche Bank both rushed to capture this new market, forming joint ventures with Deutsche Kreditbank outlets. The 22 companies are mainly US-based and operate in a range of business sectors. He started his career at Standard Chartered Bank. Dresdner immediately took advantage of its situation and became the first German bank to open an office overseas after World War II when it established a representative station in Istanbul in the late 1950s. By 1959, Kleinwort had recovered 2 million. Contact: Beverley Hunt, Partner Email this Investor. Dresdner Kleinwort is a boutique investment banking firm that offers financial advisory services. He was Acting Global Head of Private Equity and Infrastructure Investments at Standard Bank Ltd of South Africa from 2005-6. 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 combination created Dresdner Kleinwort Wasserstein (DrKW), the seventh-largest corporate merger advisor in the world. Dresdner also planned to add 150 of its own branches in the former East Germany in 1991. In 1952 the 11 regional banks were turned into three successor institutions of Dresdner Bank. He was a Cabinet Minister in the governments of Margaret Thatcher and John Major, and served as Secretary of State for Social Security, Secretary of State for Trade and Industry, and Financial Secretary. [1] In 1786, Heinrich set up a partnership with Otto Mueller in Holstein to finance trade with England. The company offers its corporate, government, and institutional clients a variety of capital markets products and services, including short-term products and treasury, equity products, rates, credit products, foreign exchange debt . Undeterred, Dresdner continued to look for opportunities to bolster its holdings, especially for its investment banking arm. Judy holds an MBA degree from the Wharton School, University of Pennsylvania, and a BA in International Economics from Peking University. In 1990, Dresdner inked a deal with Deutsche Kreditbank that gave the West German firm control over 72 Kreditbank retail branches and a 49 percent stake in the outfit, which was named Dresdner Bank Kreditbank AG. [17] Important private sector transactions at that time included the takeover of Harrods by the Fayed brothers in 1984. 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. Reunification meant more than gaining domestic strength for the new Dresdner Bank: it meant the bank could expand once again. Dresdner again pioneered overseas business dealings by becoming the first firm to set up a German bank outside of its own borders, opening the Company Luxemburgeoise de Banque S.A. in Luxembourg in 1967. Dresdner then united its assets-management operations into one unit: Dresdner Kleinwort Benson, which boasted 8,000 employees and was one of Germany's largest fund managers. The strategy proved to be both costly and damaging to its reputation in the industry. During those five years, Germany began to rebound economically. In 1988, Kleinwort Benson sold a 25 percent interest in KBGS to Fuji Bank. Email. Banker 'not German enough' for Dresdner Kleinwort - The Guardian 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. 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 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. Read More . The Vienna branch of a Czech bank, Zivnostenska, was also annexed. Admittedly, "whenever I've felt like moving, something's happened to the firm where I've been working," he says. Get the full list, Morningstar Institutional Equity Research. The opportunity for economic growth was enormous, and the management team of Dresdner Bank seized it with a vengeance. [4], The firm helped finance Francisco Franco's coup d'tat in Spain by approving a credit of 800,000 pounds at 4% interest on 15 September 1937. Prior to joining YiMei Capital, Judy served as Director of Strategic Investments at HewlettPackard Company. 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. Robert Benson Lonsdale's strengths lay in corporate finance and underwriting, but it had done little business in more traditional areas of merchant banking. Dresdner Bank Bids $1.5 Billion For Kleinwort - New York Times
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