He is Chairman of the Fine Art Group Ltd in London, a specialist art investment, advisory and credit products platform. 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. He is Honorary Fellow, Corpus Christi College, Oxford and serves as a member of its Endowment Investment Committee. He has acted as Chairman of various investment funds prior to and following the latters integration with Allianz Private Equity. Kleinwort Benson Cross Financing proved to be a consistent moneymaker, while KBGS disappointed its parent's expectations. DrKW became a member of the world's fourth-largest financial institution later that year when Dresdner Bank merged with the Allianz Group. After the merger's failure, Dresdner's chairman, Bernhard Walter, resigned and was replaced by Bernd Fahrholz. Finally, we can read about how these great companies came about with Company Histories.. As consumers, we often take for granted all the hard work that goes into building a great company. Henry Hu holds a Master Degree of Computer Science from Columbia University and a BS in Physics from Peking University. Until mid-2003, he served as Head of Global Private Equity for Dresdner Kleinwort Capital and was a Group Board Member of Dresdner . Soon thereafter, Dresdner began merger talks with Commerzbank AG, the second largest bank in Germany, though these negotiations were also scuttled. Once again it lost branches and assets to the war's victors. 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. 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. Its ability to overcome hardships and the market downturn had secured it a short-term future with Allianz. Previous roles included CFO at Vision Capital, GP at EQT, and Finance and Investor Relations Director at Terra Firma. Kleinwort's profitable activities in precious metals and foreign currency trading during this decade helped offset these fiascos. "We had 20 billion when we should have had a minimum of 50 billion," he says. 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. Previously, he was a Member of Parliament from 1983 to 2017. Dresdner Kleinwort open to tie-ups | Financial Times Shanghai Jinjia Network Technology Co., Ltd. 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. 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. In 1988, Kleinwort Benson sold a 25 percent interest in KBGS to Fuji Bank. [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. Andreas T. Angelopoulos - Chairman Private Markets - LinkedIn In 2001, Dresdner Bank acquired Wasserstein Perella & Co. and folded it into Dresdner Kleinwort's operations. People: Voyager Management/Morgan Stanley, JPMorgan/Dresdner Kleinwort 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. 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. [13] It also managed the flotation of Cable & Wireless in the same year. The Great Aluminum War altered merchant banking by turning mergers and acquisitions into a high-profile, high-profit business. Seeing the potential for growth in foreign markets, Dresdner began opening interests in Asia and Italy. The opportunity for economic growth was enormous, and the management team of Dresdner Bank seized it with a vengeance. With the Soviet occupation of East Germany, all of Dresdner's offices east of the Oder-Neisse line were closed permanently. He joined Kleinwort Benson Limited in London in 1978 and in 1981 co-founded Kleinworts first office in California. He earned a BA from the University of York (England) and became a Fellow of The Institute of Chartered Accountants in England & Wales. Final Cash Offers by Nightingale Acquisition Limited (A As a member of the Tata Administrative Service, he worked on a number of projects in areas such as hotels, luxury goods, telecoms and soft drink bottling and distribution. China Guangdong Nuclear Power Fund Management, Youre viewing 10 of 165 services to companies. The role of the big banks in Germany was closely related to developing industries and expanding commercial opportunities. Dresdner Kleinwort Investment Banking Follow About us Created in 2000 through the merger of Dresdner Kleinwort and Wasserstein Perella. 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. Dresdner was delighted that its investment banking arm was included as part of the package. It also disclosed in its 1987 annual report that its treasury division chalked up "record operating income" due to volatility in the dollar and interest rates. On the other hand, the merger left the future of DrKW in question. Dresdner renamed its investment banking operations Dresdner Kleinwort Wasserstein. As a universal bank, Dresdner Bank was formulated to serve all of the economic needs of its community. 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. Both houses were British merchant banks of long standing. [33] In September 2009, 72 former and current Dresdner Kleinwort front office employees sued for 30million in disputed bonus payments. PDF LUCAS C. MARTIN, CFA 732 977 8657 lucascm@gmail 2023 PitchBook. www.dresdnerkc.com. The burden of Germany's heavy war reparations stultified the entire economy. This is the branding that Dresdner will use for its private equity business worldwide. In 1986, The Economist called Kleinwort Benson the "great white hope of British merchant banking," stating that Kleinwort Benson and S.A. Warburg were the only British merchant banks poised to become world-class financial institutions. [27] Then in March 2009 it became clear that the office in Japan would close. 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. He received his Master of Architecture degree from University of Minnesota, and his bachelor of Architecture degree from Tsinghua University. Dresdner Kleinwort is a boutique investment banking firm that offers financial advisory services. After World War II, Dresdner and the other large German banks were split up. He has 35 years' experience in investment banking, capital markets, corporate and private banking and asset management with a particular focus on risk management. Mr. Wright has been a director of Merifin Capital NV, a private European family owned investment firm since 1987. The European banking sector as a whole began to experience a wave of merger activity in the late 1990s and into the 2000s. Henry Hu is the Partner of YiMei Capital and responsible for all aspects of fund investment and business development. 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. Washington, DC 20549- 1000 Attn: Ms. Nancy M. Morris, Secretary Telephone +1 212 969 2700 w.dresdnerkleinwort.com ViaElectronic Mail Dresdner and Deutsche Bank almost joined this merger frenzy. [40], RHJ International became "BHF Kleinwort Benson Group" in March 2015[41] and was acquired by Oddo & Cie in early 2016. Shiv is responsible for managing all aspects of the firm's activities including origination and executing transactions, client relationship management and financial management. By 1995, however, the firm had rebounded through the implementation of a new management plan that focused company efforts on corporate finance and origination and distribution of domestic and international equities. Win whats next. 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.). Since one of the primary reasons for a universal bank is to back developing industry, Dresdner, as a major shareholder in many German firms, felt the pinch of the Treaty of Versailles as sharply as the rest of Germany did. Janusz Heath | Senior Managing Director | Capital Dynamics [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. The firm provides mergers and acquisitions, strategic alliances, equity and debt underwriting, sales and trading, derivatives, equity research, and valuation services. Dresdner also continued its pan-European development when it forged an alliance with Banque Nationale de Paris (BNP), one of the three largest banks in France, in 1991. Despite its turnaround, Kleinwort Benson continued to face increased competition from its larger U.S. and European counterparts. 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 Dresdner's goal of merging with an equal was achieved at last in 2001, when it was acquired by Allianz AG, the largest insurance company in Germany, for about $20 billion. His clients includes: Citibank, P&G, Unilever, Lucent, China Mobile, China Telecom, China Unicom, PetroChina, Sinopec and CNOOC. The trouble lies in Dresdner's 'corporates and markets' division, which includes Dresdner Kleinwort Wasserstein." We help clients in preparing documents at all stages including non-disclosure agreements, letters of intent and definitive transaction documents. 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). 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. In anticipation of monetary union in 1990 (which preceded political union by a year), East Germany revamped its entire banking system, spinning off its state central bank's retail operations into a new unit called Deutsche Kreditbank. [2] For example it became part of a syndicate that marketed shares in the Illinois Central Railroad in 1852. 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. He qualified as a Chartered Accountant with Price Waterhouse, London. Its internal restructuring efforts appeared to pay off, and by September 2003 DrKW had reported three consecutive quarters of growth. VP to Director and Managing Director at Dresdner Kleinwort, MetLife, GE Capital-Genworth Financial 1998 - 2007 9 years. Hon the Lord Lilley is a British Conservative Party politician who joined the House of Lords in June 2018. The venture was found in Europe in United Kingdom. In response to the challenging business environment, DrKW implemented a series of cost-cutting strategies in order to shore up its bottom line. Vasileios Katsikiotis - Director, Balance Sheet Solutions - LinkedIn Christopher Wright - Colle Capital Dresdner Kleinwort Capital is a London-based investment banking firm providing brokerage services for financial and investment products. Such an attitude was not surprising, coming from a man who was elevated to chairman of Kleinwort Grieveson Securities in 1987, following the acquisition of Grieveson, Grant and Company, in an effort to give the former Grieveson Grant younger and more aggressive leadership. The worldwide slump in bond prices, a decrease in mergers and acquisitions activity in Britain, and problems with Kleinwort Benson's settlement system all hurt its financial performance and left it in need of capital. Our bankers pride themselves on working closely with our clients to provide tailored advice for specific situations. Its recent financial performance had been faltering and, to top it off, Dresdner did not appear as adamant as it had in the past for keeping its investment unit intact now that it had a rich parent. Our team is comprised of experienced professionals with backgrounds in investment banking, consulting, operations, technology, and research. Hugh has worked on transactions in 15 countries. 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. Subscribe to our newsletter Receive daily news updates directly in your inbox. 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. Re/Unification in the Late 1980s and 1990s. 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. He was Acting Global Head of Private Equity and Infrastructure Investments at Standard Bank Ltd of South Africa from 2005-6. We also work selectively with early stage companies to raise venture funding. 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. Dresdner Kleinwort Wasserstein Capital Markets Follow About us Created in 2000 through the merger of Dresdner Kleinwort and Wasserstein Perella. 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.
