On the other hand, the merger left the future of DrKW in question. The German debt problem continued to dog Kleinwort after the outbreak of war in 1939. The strategy proved to be both costly and damaging to its reputation in the industry. Prior to joining YiMei Capital, Judy served as Director of Strategic Investments at HewlettPackard Company. Andreas T. Angelopoulos has more than 30 years of experience in private equity, asset management, investment banking and engineering. [31] Former senior managers Martin Newson, Eduardo Listorti and Michael Adams sued but settled out of court. The company was already anchored by a strong domestic presence and its American subsidiary, ABD Securities. Dresdner Kleinwort Investment Banking Follow About us Created in 2000 through the merger of Dresdner Kleinwort and Wasserstein Perella. The alliance involved a 7 percent share swap between Dresdner and BNP, which acted as a foundation for a global cooperation pact. After the merger's failure, Dresdner's chairman, Bernhard Walter, resigned and was replaced by Bernd Fahrholz. The union created the world's fourth-largest financial group, leaving Dresdner in an enviable position. [27] Then in March 2009 it became clear that the office in Japan would close. Get the full list, Morningstar Institutional Equity Research. 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. 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 GroveStreet, Barry was the Senior Investment Officer of CalPERS Alternative Investment Management Program, where he oversaw the development of the program from $1.4 billion to $9 billion invested and led investments in the holding companies of global private equity groups such as The Carlyle Group. 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. 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. Dresdner Kleinwort Capital. Prior to Dresdner, served in various capacities at Fortis Capital, Citibank and PNC. [13] It also managed the flotation of Cable & Wireless in the same year. [23] In 2004, the Russian government hired Dresdner Kleinwort to value Yukos's Yuganskneftegaz which was later sold to Russian state oil major Rosneft. A few months after swallowing Kleinwort, Dresdner purchased San Francisco-based RCM Capital Management from Travelers Group, which managed assets of $26 billion for institutional clients in the stock and bond markets. Dresdner Kleinwort Benson Private Equity has changed its brand name to Dresdner Kleinwort Capital. Henry developed domain knowledge and personal network in TMT, Energy, Consumer and Financial Industries. The Wasserstein name was dropped in July 2006 when the. Kleinwort also shifted its focus from trade to merchant banking during these years. Email. It was one of the few British securities firms that made a profit on equities dealing in late 1987 and early 1988. Our activities involve: Negotiation: We understand that effective time and resource management is critical to the successful completion of a transaction. Previously, he was the head of sales, marketing and product development in CoWare, a silicon virtual prototyping start-up (acquired by Synopsys). Despite its turnaround, Kleinwort Benson continued to face increased competition from its larger U.S. and European counterparts. 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. Before its victory over France in 1871 organized Germany as a modern nation-state, there had not even been standardized units of currency, weight, or measurement. But Dresdner did not prosper under Friderichs for long; his six years in charge were marked by mounting losses and turmoil among executives. At the same time, Kleinwort Benson expected to expand under the leadership of a strong bank, giving it solid footing for a secure future. [33] In September 2009, 72 former and current Dresdner Kleinwort front office employees sued for 30million in disputed bonus payments. 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. 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. 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 also planned to add 150 of its own branches in the former East Germany in 1991. Henry Hu is the Partner of YiMei Capital and responsible for all aspects of fund investment and business development. In 2001, Dresdner Bank acquired Wasserstein Perella & Co. and folded it into Dresdner Kleinwort's operations. Source: International Directory of Company Histories, Vol. He is also a Visiting Senior Fellow at the LSE IDEAS diplomacy and strategy think-tank at the London School of Economics. The Depression proved disastrous for many British merchant banks, slowing foreign trade to a virtual standstill. Judy serves as a board member of Shanghai Charity Foundation and United Way China, and also president of the Wharton Club of Shanghai Board. 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. In 1978, Dresdner had officially become one of the ten largest banks in the world. Dresdner Kleinwort Capital is a London-based investment banking firm providing brokerage services for financial and investment products. Dresdner set out to bolster its international presence by concentrating on developing a global asset-management network. Kleinwort Benson recognized early on that the future of merchant banking also lay over the seas. Dresdner Kleinwort Wasserstein (DrKW) operates as the investment banking arm of Germany's Dresdner Bank AG. When the effects of the American stock market crash of 1929 hit Germany in 1931, there was little cash on hand to pay investors. Principal Competitors: Bayerische Hypo-und Vereinsbank Aktiengesellschaft; Citigroup Inc.; Commerzbank AG; Credit Suisse Group; Deutsche Bank AG. Prior to joining Langham Capital, he was managing director, senior coverage officer for India with Jefferies International, and was previously head of business development for India for the London Stock Exchange. In 1952 the 11 regional banks were turned into three successor institutions of Dresdner Bank. He started his career at Standard Chartered Bank. He joined Dresdner Kleinwort after working in the mergers and acquisition group at Merrill Lynch in New York and Tokyo. Before joining YiMei as an Advisor, Barry was the Managing Partner at GroveStreet, where he still serves as Senior Advisor. Kleinwort relocated to London in 1855. The two companies ironed out the terms of the agreement, completing the $1.4 billion transaction in January 2001. Dresdner Kleinwort is a boutique investment banking firm that offers financial advisory services. Kleinwort Benson Cross Financing proved to be a consistent moneymaker, while KBGS disappointed its parent's expectations. Our team is comprised of experienced professionals with backgrounds in investment banking, consulting, operations, technology, and research. Until mid-2003 he served as Head of Global Private Equity for Dresdner Kleinwort Capital and was a Group Board Member . This hurt Dresdner even more than had the lack of expansion during the war years. 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. As a result, merchant banks had to diversify and shuck their traditional specialist status. Dresdner was delighted that its investment banking arm was included as part of the package. Admittedly, "whenever I've felt like moving, something's happened to the firm where I've been working," he says. DRESDNER KLEINWORT, COMMERZBANK AG New York, NY Analyst, Foreign Exchange Sales July 2008 - August 2009 He served as Chairman of various investment funds prior to and following the latter's integration with Allianz SE. In 1884 Dresdner Bank moved its headquarters from Dresden to Berlin and then spent the rest of the decade expanding even more vigorously. He is also a non-executive Director of Baroda Pioneer Asset Management and Chairman of F1F9 (India). That year, Dresdner became the first German company to have its shares listed on the Tokyo stock exchange. 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. 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. 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. 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. Dresdner Kleinwort Benson In September 2004, Coller Capital's fund acquired a $90 million portfolio of companies from Dresdner Kleinwort Benson. [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. Until mid-2003 he served as Head of Global Private Equity for Dresdner Kleinwort Capital and was a Group Board Member of Dresdner Kleinwort. 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. Its amalgamation into Dresdner proved to be the first of many changes for the firm in the upcoming years. Phone: 442 - 74- 755493 Fax: 442 - 74- 756809 . He also served as corporate manager & board director at PTW Architects 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). [33] Additional cases were brought by Dresdner Kleinwort executive committee members John McIntyre, Bertrand Pinel and Alberto Piedra in August 2009 seeking 11million. 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. Reunification meant more than gaining domestic strength for the new Dresdner Bank: it meant the bank could expand once again. He moves from Dresdner Kleinwort, where he covered Northern European companies and financial institutions, and will lead the firm's debt capital markets for companies in Germany, Austria . The Great Aluminum War altered merchant banking by turning mergers and acquisitions into a high-profile, high-profit business. [38] In December 2012 London-based independent advice firm SK Financial bought about 1,000 clients from Kleinwort Benson that Kleinwort Benson felt it could no longer support profitably after the implementation of the Retail Distribution Review. He received his Master of Architecture degree from University of Minnesota, and his bachelor of Architecture degree from Tsinghua University. Steve was the vice president of CCDI group, general manager at both of its Sports and Overseas division. Under Rller, Dresdner began to prosper again. Beginning in the late 1980s, banks throughout Europe and the world began to gear up for the unification of the European market that was planned for 1992, which would create an integrated market for banking and financial services. Currently, he is also an Adviser to AfricInvest, a pan-African private equity firm. eTel raised $50m and the investment, made for 45pc of the company equity, was led by Dresdner Kleinwort Benson Private equity, Argus Capital partners, Greenhill Capital partners and Intel Capital. www.dresdnerkc.com. Washington, DC 20549- 1000 Attn: Ms. Nancy M. Morris, Secretary Telephone +1 212 969 2700 w.dresdnerkleinwort.com ViaElectronic Mail Angel, Fund of Funds, Venture Capital), This describes the stage of investments made by this organization (e.g. Kleinwort Benson was a leading investment bank that offered a wide range of financial services from offices throughout the United Kingdom and Channel Islands. Meanwhile, Judy is the co-founder and managing partner of NE Social Impact Fund (NE), a dedicated impact investing fund jointly established by YiMei and NPI, Chinas largest non-profit incubator. 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. Principal Competitors: Allen & Company Inc.; Credit Suisse First Boston Corp.; Lazard LLC. He is an experienced institutional investor in alternative assets in developed and emerging markets, board member of companies, public and private, in the USA, Europe and Asia, and family office executive. St. James Press, 2004. We see them around but we don't know what goes on behind the scenes. Langham Capital provides expert corporate finance advisory services to companies seeking to build their global businesses.
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