[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. Principal Competitors: Allen & Company Inc.; Credit Suisse First Boston Corp.; Lazard LLC. 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 . Judy and her team are keen to assist public welfare programs and make positive contribution to the society. n***@orix.com. Kleinwort Benson's 1984 annual report spoke of the firm forming a "global chain." In Los Angeles, it purchased the services of a group of brokers specializing in interest-rate swaps and renamed it Kleinwort Benson Cross Financing. Mr. Wright has been a director of Merifin Capital NV, a private European family owned investment firm since 1987. The firm was formerly known as Kleinwort Benson until Dresdner Bank acquired it in 1995. 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. Dresdner and its rival Deutsche Bank both rushed to capture this new market, forming joint ventures with Deutsche Kreditbank outlets. He qualified as a Chartered Accountant with Price Waterhouse, London. Until mid-2003 he served as Head of Global Private Equity for Dresdner Kleinwort Capital and was a Group Board Member . Dresdner Kleinwort Benson In September 2004, Coller Capital's fund acquired a $90 million portfolio of companies from Dresdner Kleinwort Benson. He started his career at Standard Chartered Bank. Dresdner Kleinwort Capital is a London-based investment banking firm providing brokerage services for financial and investment products. 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. TEAM_YiMei Capital Steve was the vice president of CCDI group, general manager at both of its Sports and Overseas division. Kleinwort Benson was a leading investment bank that offered a wide range of financial services from offices throughout the United Kingdom and Channel Islands. 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. Phone Number +49 69 740987 Dresdner Kleinwort advise clients, provide financing and supply liquidity. 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. Moving to the US with PwC in 1992, he was a senior partner in M&A. VP to Director and Managing Director at Dresdner Kleinwort, MetLife, GE Capital-Genworth Financial 1998 - 2007 9 years. He served as Chairman of various investment funds prior to and following the latter's integration with Allianz SE. Clients include large multinationals, financial sponsors and private companies. Dresdner Kleinwort Capital is a London-based investment banking firm providing brokerage services for financial and investment products. 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. Anne has worked in private equity since 2004 most recently as CFO at Cap10 Partners. 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. [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. Kleinwort also shifted its focus from trade to merchant banking during these years. He joined Kleinwort Benson Limited in London in 1978 and in 1981 co-founded Kleinworts first office in California. By the 1780s, they had gone into business in Liverpool as cotton merchants. Reynolds finally won, acquiring 80 percent of British Aluminum stock by early 1959. 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. 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. Get the full list, Youre viewing 10 of 69 services on a deal buy side. In 1965, Kleinwort Benson entered the oil and gas business when its subsidiary Kleinwort Benson Energy began drilling on the continental shelf. At FTI Consulting, he was responsible for establishing the firms India operations across the key practices of corporate finance/restructuring, forensic accounting and investigations, litigation consulting, strategic communications and investor relations. With its place in the securities industry somewhat uncertain, the future of Agnew's vision of Kleinwort Benson as a fully integrated investment bank appeared equally up in the air. All rights reserved. Kleinwort had strong overseas connections thanks to its history of involvement in foreign trade but was weak in corporate finance and investment banking. Previous roles included CFO at Vision Capital, GP at EQT, and Finance and Investor Relations Director at Terra Firma. 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.). Mr. Wright was educated at Oxford University (M.A.) After World War II, Dresdner and the other large German banks were split up. Friderichs's tenure ended in February 1985, when he resigned in the wake of charges that he had accepted a bribe for a favorable tax ruling given to the Flick Industrial Group while he was economics minister. This stifled the basic expansionist impulse of the bank and cut off investment revenue. Two families, the Kleinworts and the Bensons, founded two different merchant banks in London. Langham Capital provides expert corporate finance advisory services to companies seeking to build their global businesses. After the merger's failure, Dresdner's chairman, Bernhard Walter, resigned and was replaced by Bernd Fahrholz. The domination of the big banks had long fostered a populist resentment, which the Nazis carefully exploited. He subsequently moved to Citigroup as a quant researcher in the number one ranked team before joining Aspect Capital as Head of Product Management.He holds a BSc in Economics & Statistics from UCL and a PhD in Econometrics following postgrad work at the Universities of Bristol and Cambridge. 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. By 1989, it boasted of offices and subsidiaries in ten countries and four continents--a small empire of its own. His clients includes: Citibank, P&G, Unilever, Lucent, China Mobile, China Telecom, China Unicom, PetroChina, Sinopec and CNOOC. Dresdner Kleinwort Capital 6 Deals, 6 Portfolio startups, Statistics [40], RHJ International became "BHF Kleinwort Benson Group" in March 2015[41] and was acquired by Oddo & Cie in early 2016. Allianz announced it would lay off 8,000 Dresdner employees that year, with another 3,000 cuts slated. Robert Benson Lonsdale's strengths lay in corporate finance and underwriting, but it had done little business in more traditional areas of merchant banking. Deutsche Bank wanted Dresdner to jettison its investment banking arm, Dresdner Kleinwort Benson; Dresdner refused, making itself "a takeover candidate more than ever," according to the April 10, 2000, Wall Street Journal. 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. 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. Thanks to this poor performance, its stock price neared a four-year low in the spring of 1989. At the time, it had 4.4 million in German, Austrian, and Hungarian bills outstanding. Its ability to overcome hardships and the market downturn had secured it a short-term future with Allianz. Seeing the potential for growth in foreign markets, Dresdner began opening interests in Asia and Italy. By 1959, Kleinwort had recovered 2 million. Coordinates: .mw-parser-output .geo-default,.mw-parser-output .geo-dms,.mw-parser-output .geo-dec{display:inline}.mw-parser-output .geo-nondefault,.mw-parser-output .geo-multi-punct{display:none}.mw-parser-output .longitude,.mw-parser-output .latitude{white-space:nowrap}513045N 00838W / 51.51255N 0.14378W / 51.51255; -0.14378. 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. Prior to joining Langham Capital, Vikram was Managing Director & Country Manager-India for FTI Consulting, a multi-segment business advisory firm, headquartered in the US and listed on the NYSE. In Chicago, it acquired the institutional and funds operations of Virginia Trading Corporation, a futures brokerage. Immediately prior to founding Langham Capital, Shiv managed two technology ventures in Europe. 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. 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. The trend towards consolidation in the European banking industry continued in the late 1990s and early in the new century. Langham Capital advises companies on sourcing capital from the public markets (NASDAQ, AIM) as well as private equity. He is also a non-executive Director of Baroda Pioneer Asset Management and Chairman of F1F9 (India). All rights reserved. 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. Our familiarity with cross border deal structures helps focus on the most effective options to maximise value creation for our clients. When Kleinwort and Robert Benson Lonsdale merged in 1961, The Economist described it as "a marriage of essentially complementary partners." 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. Our team is comprised of experienced professionals with backgrounds in investment banking, consulting, operations, technology, and research. 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. The European banking sector as a whole began to experience a wave of merger activity in the late 1990s and into the 2000s. 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. The loss of wealth coupled with the need to pay reparations produced the legendary hyperinflation of the Weimar Republic, further cutting into the German banking business. . New York City Metropolitan Area Education . [2] Over the course of the 19th century, the Benson family, under the control of Robin Benson, grew its wealth through railway finance in Britain, Europe and America. 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. He is Honorary Fellow, Corpus Christi College, Oxford and serves as a member of its Endowment Investment Committee. In 2001, Dresdner Bank acquired Wasserstein Perella & Co. and folded it into Dresdner Kleinwort's operations. Three years later, Dresdner and the entire German business community were shocked when Jrgen Ponto, Dresdner's chief executive, was killed by left-wing terrorists during a kidnapping attempt. Undeterred, Dresdner continued to look for opportunities to bolster its holdings, especially for its investment banking arm. Copyright (c) 2022 Company-Histories.com. Henry Hu holds a Master Degree of Computer Science from Columbia University and a BS in Physics from Peking University. 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. We are an advisory firm specialised in in mergers and acquisitions and corporate finance with more than 25 years of experience. Dresdner Kleinwort Investment Banking Follow About us Created in 2000 through the merger of Dresdner Kleinwort and Wasserstein Perella. The earliest known Kleinwort to go into banking was 24-year-old Heinrich Kleinwort, a grandfather of Sir Alexander Drake Kleinwort, 1st Baronet. 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. 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. The company operated as Dresdner Kleinwort Benson (DKB) after the 1995 acquisition. Kleinwort Benson nevertheless remained committed to securities. Andreas T. Angelopoulos - Chairman Private Markets - LinkedIn [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. In 1929, the economy's volume of business was 50 percent greater than it was before the war. The Company advises on mergers and acquisitions, underwrites equity and debt securities, and offers other . In the mid-1970s, Dresdner opened representative offices in London, Tokyo, and even Moscow. 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. However, KBGS seldom participated in auctions, nor was its familiarity with the demand for treasury securities as strong as had been hoped. 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. Dresdner renamed its investment banking operations Dresdner Kleinwort Wasserstein. 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. Home - Vine Alternative Investments Group, LLC As consumers, we often take for granted all the hard work that goes into building a great company. 57. Barry received his MBA from University of North Carolina and BA, Economics from Vassar College. We see them around but we don't know what goes on behind the scenes. New name for Dresdner Kleinwort Capital - buyoutsinsider.com Of Dresdner's total of 327 offices, only about half remained open, and most of those were badly damaged. 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. 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. Dresdner became involved in yet another deal later that year. Active, Closed, This describes the type of investor this organization is (e.g. In response, Kleinwort joined the industry-wide trend toward raising money for domestic industry in the 1920s. Contact. Through Kleinwort Benson, Dresdner would gain a foothold in international investment banking. [22] The Frankfurt branch of the bank was instrumental in initiating trading in emissions credits in 2003. 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. Individual investments | Coller Capital Henry has also founded a start-up technology company which was funded by a famous VC in Shanghai. Email. He has acted as Chairman of various investment funds prior to and following the latters integration with Allianz Private Equity. Previously, Neil was a Chief Executive Officer at Sevara Partners and also held positions at Dresdner Kleinwort, Dresdner Kleinwort. 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. As such, the company agreed to be acquired by Dresdner Bank AG, Germany's second-largest bank at the time. Kleinwort relocated to London in 1855. Barry brings decades of rich investment experiences to the YiMei team. Address: Jurgen-Ponto-Platz 1 60301 Frankfurt Germany Telephone: 49-692-630 Fax: 49-692-63-4831 http://www.dresdner-bank.com Statistics: Public Company Incorporated: 1872 as Dresden Bankhaus Employees: 48,455 Total Assets: $448.81 billion (2002) Stock Exchanges: German Ticker Symbol: DRB Our activities involve: Negotiation: We understand that effective time and resource management is critical to the successful completion of a transaction. Dresdner's relationship with the Nazi government led to dire consequences after the conclusion of World War II. A month later Kleinworts agreed another loan of 1,500,000 pounds sterling at 3%. Dresdner also expanded through technical innovation, using data processing systems to manage accounts in 1958, becoming the first West German firm to do so. Formerly the Global Head of Fixed Income, Currencies and Commodities at both ANZ Bank and Dresdner Kleinwort, the investment banking division of Allianz, and responsible for managing teams comprised of over 2000 staff, he has an exemplary track record in risk management, identifying value opportunities & building high-performance teams. Allianz made it clear that it would either split off or scale back Kleinwort Wasserstein. The Ikarus Capital team has collectively more than 25 years of experience in financial advisory services in the renewables, clean tech, and utilities sector. As Dresdner had always been a huge success in international business and its partner had long shown a genius for domestic banking, the alliance was a natural one, and the standings of both firms increased greatly as they shared profits and policies. Nevertheless, Kleinwort survived the Depression, while other merchant banks either folded or needed a handout from the Bank of England. [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. Under Rller, Dresdner began to prosper again. St. James Press, 2004. [23] In 2004, the Russian government hired Dresdner Kleinwort to value Yukos's Yuganskneftegaz which was later sold to Russian state oil major Rosneft. Melly spots prize and moves quickly | Independent.ie 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. Henry developed domain knowledge and personal network in TMT, Energy, Consumer and Financial Industries. [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. Unlike Robert Fleming and Schroders, the two last main UK banking survivors, Kleinwort Benson had failed, to Robertson's personal regret, to build up a major asset management operation. Its new-found size and strength stood it in good stead for the hectic times to come.
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