Before his time in CoWare, Isaac worked with Cadence, when the company was still a start-up, and helped grow the now billion dollar company in electronic design automation. In response, Kleinwort joined the industry-wide trend toward raising money for domestic industry in the 1920s. Langham will evaluate the deal and provide a valuation range using variables from both macro and micro levels. 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. 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. Kleinwort had strong overseas connections thanks to its history of involvement in foreign trade but was weak in corporate finance and investment banking. As consumers, we often take for granted all the hard work that goes into building a great company. In 1948, Robert Benson & Company Limited merged with Lonsdale Investment Trust, whom it had served as bankers, to form Robert Benson Lonsdale. Reunification meant more than gaining domestic strength for the new Dresdner Bank: it meant the bank could expand once again. 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 . 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. World War I caused trouble for British merchant banks by disrupting foreign trade, and Kleinwort, which relied considerably on business in Germany, was among the hardest hit. Focus Industries: Biotechnology; Business and consumer products . Undeterred, Dresdner continued to look for opportunities to bolster its holdings, especially for its investment banking arm. The reunification of East and West Germany offered Dresdner a host of new opportunities as well. Read More . Both parties eyed the $1.6 billion purchase as being highly beneficial. In response, foreign bankers with loans outstanding in Germany declared that they would grant no more credit to German interests. B-22, Jungpura Extension, New Delhi - 110014, India, 28 Devonport, 23 Southwick Street, London, England, W2 2QF. Judy serves as a board member of Shanghai Charity Foundation and United Way China, and also president of the Wharton Club of Shanghai Board. 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. 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/New York NY. Home - Vine Alternative Investments Group, LLC 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. [13] It also managed the flotation of Cable & Wireless in the same year. In 1988, American International Group acquired a 5.3 percent interest in Kleinwort Benson. At the high point of economic chaos, in 1923, Dresdner held assets of 204 trillion marks. Isaac runs the Information Technology practice at Langham Capital. Active, Closed, This describes the type of investor this organization is (e.g. Dresdner Kleinwort/New York NY - Company Profile and News In 1986 he relocated to New York to manage the Kleinwort Benson Limited portfolio of North American private equity, high-yield and mezzanine investments. Leadership | Christopher Wright | Fraser Finance Dresdner also expanded through technical innovation, using data processing systems to manage accounts in 1958, becoming the first West German firm to do so. and holds a Certified Diploma in Accounting and Finance (from ACCA). They merged in 1961 to create Kleinwort Benson Lonsdale, later Kleinwort Benson. 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. 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. Henry Hu holds a Master Degree of Computer Science from Columbia University and a BS in Physics from Peking University. [8], Kleinworts and Robert Benson, Lonsdale and Co. merged to form Kleinwort Benson Lonsdale in 1961. After World War II, Dresdner and the other large German banks were split up. [2], Last edited on 10 February 2023, at 17:31, Sir Alexander Drake Kleinwort, 1st Baronet, "Kleinwort loses historic Benson name after mega-merger", "Gold, Mexican cotton and enemy debts: archives of Kleinwort Benson Group, merchant investment bankers", "Quin puso el dinero para el golpe del 18 de julio y la Guerra Civil? 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. Steve was the vice president of CCDI group, general manager at both of its Sports and Overseas division. Langham Capital provides expert corporate finance advisory services to companies seeking to build their global businesses. The earliest known Kleinwort to go into banking was 24-year-old Heinrich Kleinwort, a grandfather of Sir Alexander Drake Kleinwort, 1st Baronet. 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. The merger fell through, however, after it became apparent that DKB would be carved up as a result of the deal. Phone: 442 - 74- 755493 Fax: 442 - 74- 756809 . He was primarily responsible for handling commercial and residential real estate development, and designing large international EPC projects with many prominent public works. 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. This bank crisis necessitated federal involvement: in 1931 the German government took over 90 percent of Dresdner. 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. Dresdner set out to bolster its international presence by concentrating on developing a global asset-management network. In the mid-1970s, Dresdner opened representative offices in London, Tokyo, and even Moscow. As a result, merchant banks had to diversify and shuck their traditional specialist status. But the banks were too loyal to their customers and lent out too much money. Privacy Policy, Astbury, Kate, "Allianz Still Half in Love,", "Finance and Economics: Death of a Deal,", "For Better, For Worse; Allianz and Dresdner Bank,", Hobday, Nicola, "Whither Dresdner Kleinwort Wasserstein,", Jenkins, Patrick, "DrKW Aims to Recapture Past Glory,", Kerr, Ian, "Can Kleinwort Elude the Vultures,", Merrell, Caroline, "Allianz Signals Disposal of DKW,", Stevenson, Richard W., "Dresdner Will Pay $1.6 Billion for Kleinwort Benson,", "Wasserstein's Acquisition Completed by Dresdner,". He has 35 years' experience in investment banking, capital markets, corporate and private banking and asset management with a particular focus on risk management. Additionally, it offers financing and securities management, private placements and IPO (Initial Public Offering) advisory, capital sourcing, and loan syndication services. He is Foundation Fellow, Corpus Christi College, Oxford. Moving to the US with PwC in 1992, he was a senior partner in M&A. Until mid-2003 he served as Head of Global Private Equity for Dresdner Kleinwort Capital and was a Group Board Member of Dresdner Kleinwort. He is Chairman of the Fine Art Group Ltd in London, a specialist art investment, advisory and credit products platform. Ikarus Capital | Team Because of its traditional reliance on trade with Germany, Kleinwort was hit harder than most of its competitors by the crisis. Final Cash Offers by Nightingale Acquisition Limited (A In 1951, the West German government and the banks reached an accord whereby the banks would end the credit freeze, and German companies would repay their debts, figured at a 4 percent annual rate from 1939 to 1953. [16] It assisted with the privatization of Enterprise Oil in the same year. In 2002 almost all of Germany's major banks reported their worst losses in the postwar era. Prior to that, Steve served as a design architect in a number of well-known architectural design firms, including Ellerbe Becket, KKE, MH. 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. Kleinwort Benson Cross Financing proved to be a consistent moneymaker, while KBGS disappointed its parent's expectations. The article went on to report, "As equity markets have weakened and mergers-and-acquisitions business has dried up, trading revenues have fallen by more than half, and fees and commissions have dropped by more than one-eighth.". Dresdner Kleinwort - Crunchbase Investor Profile & Investments Dresdner Kleinwort Capital - Web3 Crypto Company Profile, Funding In Chicago, it acquired the institutional and funds operations of Virginia Trading Corporation, a futures brokerage. Mr. Lambert serves as a member of Vine's investment committee and is a Board member of Village Roadshow, a Vine portfolio company. [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. [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. 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. Mr. Wright is Chairman of the Advisory Board at YiMei Capital. We offer cross-border mergers & acquisitions, debt & equity capital raising, and corporate finance advisory services in the Technology and Consumer sectors. Our familiarity with cross border deal structures helps focus on the most effective options to maximise value creation for our clients. He received his Master of Architecture degree from University of Minnesota, and his bachelor of Architecture degree from Tsinghua University. Dresdner Kleinwort open to tie-ups | Financial Times Previously, he was the head of sales, marketing and product development in CoWare, a silicon virtual prototyping start-up (acquired by Synopsys). We see them around but we don't know what goes on behind the scenes. 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. 4/30/2023 2:00 AM. learn how over 7,000 companies got started! 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. Copyright (c) 2022 Company-Histories.com. Who we are - South Andes Dresdner and its rival Deutsche Bank both rushed to capture this new market, forming joint ventures with Deutsche Kreditbank outlets. In 1970, it opened an office in Tokyo which, combined with its subsidiaries in Thailand and Hong Kong, gave it a stronger presence in Asia than any other British merchant bank. Previous roles included CFO at Vision Capital, GP at EQT, and Finance and Investor Relations Director at Terra Firma. 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. 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. He helped these clients with strategic transformation and operation optimization services to improve their competitive advantages. 2023 PitchBook. 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 Langham Capital advises companies on sourcing capital from the public markets (NASDAQ, AIM) as well as private equity. [30] Jens-Peter Neumann, former head of Capital Markets sued in Germany in April 2009 for 1.5million in severance pay. In 1995, Dresdner spent about $1.58 billion to acquire the British investment bank Kleinwort Benson Group PLC. 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. [22] The Frankfurt branch of the bank was instrumental in initiating trading in emissions credits in 2003. Dresdner Kleinwort Capital Inc - Company Profile and News Firms with international interests as extensive as Dresdner's experienced crushing setbacks as they lost vast international securities and capital holdings. He qualified as a Chartered Accountant with Price Waterhouse, London. Principal Competitors: Allen & Company Inc.; Credit Suisse First Boston Corp.; Lazard LLC. Until mid-2003 he served as Head of Global Private Equity for Dresdner Kleinwort Capital and was a Group Board Member . He joined Dresdner Kleinwort after working in the mergers and acquisition group at Merrill Lynch in New York and Tokyo. 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 and Deutsche Bank almost joined this merger frenzy. 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. [36], In July 2011, RHJ International announced that its subsidiary, Kleinwort Benson, was in exclusive negotiations with Deutsche Bank regarding a potential acquisition of BHF Bank, one of Germany's strongest banking brands, with operations in private banking, asset management, financial markets and corporate banking. 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. Two families, the Kleinworts and the Bensons, founded two different merchant banks in London. The role of the big banks in Germany was closely related to developing industries and expanding commercial opportunities. He also served as corporate manager & board director at PTW Architects firm. As a universal bank, Dresdner Bank was formulated to serve all of the economic needs of its community. During this time he executed a variety of transactions in equity capital markets, mergers and acquisitions, privatization, and debt restructuring. Dresdner Kleinwort Wasserstein (DrKW) operates as the investment banking arm of Germany's Dresdner Bank AG. Neil Winward - Managing Director, ORIX Spec.. - ORIX USA | ZoomInfo [2] For example it became part of a syndicate that marketed shares in the Illinois Central Railroad in 1852. [20], In 1995, Kleinwort Benson was acquired by Dresdner Bank and, as Dresdner Kleinwort, became its investment banking arm. 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. China Guangdong Nuclear Power Fund Management, Youre viewing 10 of 165 services to companies. Allianz AG, a large German insurance group, made a $22 billion play for Dresdner, adding it to its arsenal in late 2001. [23] In 2004, the Russian government hired Dresdner Kleinwort to value Yukos's Yuganskneftegaz which was later sold to Russian state oil major Rosneft. Dresdner also planned to add 150 of its own branches in the former East Germany in 1991. The two companies ironed out the terms of the agreement, completing the $1.4 billion transaction in January 2001. 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. Get the full list, Morningstar Institutional Equity Research. 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. Henry Hu is the Partner of YiMei Capital and responsible for all aspects of fund investment and business development. Henry has also founded a start-up technology company which was funded by a famous VC in Shanghai. The union created the world's fourth-largest financial group, leaving Dresdner in an enviable position. Mr. Wright is Emeritus Director of Campbell Lutyens @ Co. Ltd, a leading private equity and infrastructure focused investment banking firm based in London. Team - Beechwood Capital Advisors The burden of Germany's heavy war reparations stultified the entire economy. Prior to YiMei Capital Management, Henry worked as Director in Accenture China and PwC US, where he developed deep understanding of world leading corporations' business and operating model. [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. Shiv is responsible for managing all aspects of the firm's activities including origination and executing transactions, client relationship management and financial management. . 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. 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. Judy holds an MBA degree from the Wharton School, University of Pennsylvania, and a BA in International Economics from Peking University. 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 Rt. Thanks to the integration of the world's financial markets, the American stock market crash of 1987 was felt around the world. About Us - Socit Gnrale In 1968 Dresdner established German-American Securities--now called ABD Securities Corporation--in New York. 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. Structuring: Within the commercial framework of a transaction, a wide range of financing and structuring options are possible. He is also a Visiting Senior Fellow at the LSE IDEAS diplomacy and strategy think-tank at the London School of Economics. Contact Number (***) ***-**** Between 1924 and 1929, Dresdner Bank was involved in a lending policy that brought economic chaos to Germany again in 1931. 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. During those five years, Germany began to rebound economically. Robert is the prior CEO of Renaissance Technologies (UK) where he ran and managed the London office responsible for the EMEA regions.He started his career in 1997 as a derivatives risk manager at Dresdner Kleinwort Benson where he first met Dylan Grice - before switching to quantitative strategy/research. After the merger's failure, Dresdner's chairman, Bernhard Walter, resigned and was replaced by Bernd Fahrholz. Our team is comprised of experienced professionals with backgrounds in investment banking, consulting, operations, technology, and research. 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. 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. Robert Benson Lonsdale's strengths lay in corporate finance and underwriting, but it had done little business in more traditional areas of merchant banking. Descriptive keyword for an Organization (e.g. Previously, Shiv worked in the Mergers & Acquisitions divisions of JP Morgan and Dresdner Kleinwort in London and New York. In 2003 Dresdner's chief executive Bernd Fahrholz resigned and was replaced by Herbert Walter. 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. Source: International Directory of Company Histories, Vol.60. Also, Dresdner and the other big banks carried too much foreign credit. The Wasserstein name was dropped in July. He was the top ranked sell-side analyst for several years before leaving for Switzerland.He is a graduate of Strathclyde University and the London School of Economics. This hurt Dresdner even more than had the lack of expansion during the war years. He was in charge of oversea business development & strategy, international business management, international M&A and change management post M&A. This was due largely to the capital loans that Dresdner and the other leading banks made to new and developing German industries. 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. The alliance involved a 7 percent share swap between Dresdner and BNP, which acted as a foundation for a global cooperation pact. He is also a non-executive Director of Baroda Pioneer Asset Management and Chairman of F1F9 (India). His clients includes: Citibank, P&G, Unilever, Lucent, China Mobile, China Telecom, China Unicom, PetroChina, Sinopec and CNOOC. Dresdner Shifts Asia Ex-Japan Credit Trading To Singapore "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. Clients include large multinationals, financial sponsors and private companies. Dresdner Kleinwort caters to corporate, finance, telecommunication, media, technology, energy, power, and retail sectors. Traditionally, merchant bankers had to live with uncertainty as an inherent fact of business life. In 1884 Dresdner Bank moved its headquarters from Dresden to Berlin and then spent the rest of the decade expanding even more vigorously. Barry brings decades of rich investment experiences to the YiMei team. Through Kleinwort Benson, Dresdner would gain a foothold in international investment banking. We also work selectively with early stage companies to raise venture funding. [39] The bank moved to new premises at St George Street in London in 2012. The Depression proved disastrous for many British merchant banks, slowing foreign trade to a virtual standstill.

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