Dresdner Kleinwort Wasserstein - PitchBook Data 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 . The Wasserstein name was dropped in July 2006 when the. Dresdner Kleinwort/New York NY. The deal made Kleinwort Benson the first foreign bank to own a government securities firm that dealt directly with the Federal Reserve Bank of New York. Ostensibly socialists, the Nazis were inclined to completely nationalize all the German banks under the absolute power of the Third Reich. 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. He qualified as a Chartered Accountant with Price Waterhouse, London. Anne has worked in private equity since 2004 most recently as CFO at Cap10 Partners. Dresdner Kleinwort is a boutique investment banking firm that offers financial advisory services. [32] Other executives (Areski Iberrakene, Efstratios Hatzistefanis, Kaveh Taleghani and Stefan Guetter) won their bonus suits against the bank in August 2009. 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. Mr. Wright was educated at Oxford University (M.A.) 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. 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 is Chairman of the Advisory Board at YiMei Capital. The firm provides mergers and acquisitions, strategic alliances, equity and debt underwriting, sales and trading, derivatives, equity research, and valuation services. This hurt Dresdner even more than had the lack of expansion during the war years. This, together with issues regarding severance payments and guaranteed bonus payments, led to a number of lawsuits. Thanks to the integration of the world's financial markets, the American stock market crash of 1987 was felt around the world. 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. 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. Before joining YiMei as an Advisor, Barry was the Managing Partner at GroveStreet, where he still serves as Senior Advisor. At the time, it had 4.4 million in German, Austrian, and Hungarian bills outstanding. 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. Leadership | Christopher Wright | Fraser Finance 57. He has acted as Chairman of various investment funds prior to and following the latters integration with Allianz Private Equity. Kleinwort's profitable activities in precious metals and foreign currency trading during this decade helped offset these fiascos. China Guangdong Nuclear Power Fund Management, Youre viewing 10 of 165 services to companies. Dresdner Kleinwort Capital | MyCapital A global cross-border investment bank providing M&A, capital raise and corporate finance advisory services, Direct presence in the US, the UK, and India, and banking partnerships worldwide, Completed transactions in the US, the UK, Continental Europe, the Middle East, Japan, and India, Specializes in the Technology and Consumer Sectors, Senior bankers with global M&A experience over many years. 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. Isaac has held several positions in various companies, most recently as the Chief Strategy Officer of L&T Technology Services. [33] In September 2009, 72 former and current Dresdner Kleinwort front office employees sued for 30million in disputed bonus payments. At this time Dresdner developed close relations with the electro-technical, rail, and oil industries, which allowed it to build, with Deutsche Bank, a railroad line from Constantinople to Ankara, then an important line of transportation. 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. Isaac began his career at Intel, managing microprocessor based systems, micro-controller based ASICs, and computer-aided design systems. Vasileios Katsikiotis - Director, Balance Sheet Solutions - LinkedIn Hugh has worked on transactions in 15 countries. Henry has also founded a start-up technology company which was funded by a famous VC in Shanghai. During those five years, Germany began to rebound economically. About Us - Socit Gnrale This bank crisis necessitated federal involvement: in 1931 the German government took over 90 percent of Dresdner. 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. Structuring: Within the commercial framework of a transaction, a wide range of financing and structuring options are possible. The opportunity for economic growth was enormous, and the management team of Dresdner Bank seized it with a vengeance. But Alan Yarrow, who in January became a vice chairman of Dresdner Kleinwort Benson, is an example of the advantages of staying put. Steve was the vice president of CCDI group, general manager at both of its Sports and Overseas division. Dresdner Kleinwort Benson In September 2004, Coller Capital's fund acquired a $90 million portfolio of companies from Dresdner Kleinwort Benson. Phone: 442 - 74- 755493 Fax: 442 - 74- 756809 . Final Cash Offers by Nightingale Acquisition Limited (A 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. [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. He is a director of Asset Metrix GmbH and insticube GmbH, both B2B software companies in Munich. [18], The firm also worked on overseas privatisations advising the Italian government on the IPO of Enel in 1993. By 1959, Kleinwort had recovered 2 million. Four years entrepreneurship experience gave Henry very solid training in starting up company, including team building, fund raising, operation & governance, product development, sales & marketing. St. James Press, 2004. 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 the end, the banks were not nationalized, and Dresdner Bank prospered under state-regulated capitalism. Privacy Policy, Roth, Terence, "Deutsche Bank, Dresdner Push into East Germany,", ------, "1992: West German Banks Rushing to Diversify in Anticipation of Barrier-Free Europe,", Rhoads, Christopher, and Erik Portanger, "Two Big German Banks Scramble in Wake of Aborted Megamerger,". When the restrictions limiting the three major branches of Dresdner from operating outside of their zones of occupation were lifted in 1963, the domestic business needed to finance foreign expansion was finally available, and the bank started to become the international giant that it is today. He advised on strategy and funding, with a view to introducing these companies to international best-practices in management and finance. learn how over 7,000 companies got started! He is Chairman of the Fine Art Group Ltd in London, a specialist art investment, advisory and credit products platform. Dresdner Kleinwort Capital 6 Deals, 6 Portfolio startups, Statistics 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. 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. Kleinwort Benson recognized early on that the future of merchant banking also lay over the seas. But Karl Rasche's presence on the board of a Goering Werke subsidiary during this time was later considered positive evidence by the Allies that Dresdner had not only escaped being socialized by the Nazis, but that it had maintained a close relationship with the Nazi government. The main department of described VC is located in the London. Its size increased in 1939, when Lnderbank, the second largest bank in Austria, merged with Dresdner after the Anschluss in Austria. Dresdner became involved in yet another deal later that year. [16] It assisted with the privatization of Enterprise Oil in the same year. He also focused on restructuring investments in small-to-medium sized German telecommunications companies for Dresdner Kleinwort Capital, the private equity arm of Dresdner . 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. In 1988, Kleinwort Benson sold a 25 percent interest in KBGS to Fuji Bank. In 1937 Dresdner was able to buy itself back from the government. [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. [39] The bank moved to new premises at St George Street in London in 2012. 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. 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. 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. 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. 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. 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. In 1958, Robert Benson Lonsdale became embroiled in what became known as Britain's Great Aluminum War. Dresdner Kleinwort Capital Inc - Company Profile and News 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. We see them around but we don't know what goes on behind the scenes. When Kleinwort and Robert Benson Lonsdale merged in 1961, The Economist described it as "a marriage of essentially complementary partners." Its internal restructuring efforts appeared to pay off, and by September 2003 DrKW had reported three consecutive quarters of growth. 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 . 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. 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. Hon the Lord Lilley is a British Conservative Party politician who joined the House of Lords in June 2018. Isaac runs the Information Technology practice at Langham Capital. [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. Immediately prior to founding Langham Capital, Shiv managed two technology ventures in Europe. The company operated as Dresdner Kleinwort Benson (DKB) after the 1995 acquisition. Friderichs's replacement was Wolfgang Rller, a member of Dresdner's board whose specialty was the securities business. Source: International Directory of Company Histories, Vol. [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? [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 KLEINWORT, COMMERZBANK AG New York, NY Analyst, Foreign Exchange Sales July 2008 - August 2009 Henry developed domain knowledge and personal network in TMT, Energy, Consumer and Financial Industries. We help clients in preparing documents at all stages including non-disclosure agreements, letters of intent and definitive transaction documents. Dresdner Kleinwort Benson Private Equity has changed its brand name to Dresdner Kleinwort Capital. The Dresdner Kleinwort 72 - WSJ [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. Team Calderwood Capital | UK All rights reserved. The German debt problem continued to dog Kleinwort after the outbreak of war in 1939. Our bankers pride themselves on working closely with our clients to provide tailored advice for specific situations. Isaac earned a Bachelors degree in Electrical Engineering from the University of Madras, a MS in Electrical and Computer Engineering from Florida Institute of Technology, and a MBA from Arizona State University. New York City Metropolitan Area Education . Get the full list, Youre viewing 10 of 69 services on a deal buy side. Dresdner achieved unprecedented success in the deposit business between 1896 and 1908 largely through innovative marketing techniques and the bold move of offering higher interest rates to deposit customers to draw a profitable volume of business. Henry Hu is the Partner of YiMei Capital and responsible for all aspects of fund investment and business development. 4/30/2023 2:00 AM. Rehabilitation and Recovery After World War II. [13] It also managed the flotation of Cable & Wireless in the same year. "We had 20 billion when we should have had a minimum of 50 billion," he says. Win whats next. Dresdner continued to expand, opening branches in Singapore and New York in 1972. 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. In addition, Kleinwort Benson's Australian banking and securities operations were sold to Security Pacific in October 1989. Thornton managed about $1.49 billion in mutual funds and pension accounts. Robert Benson Lonsdale's strengths lay in corporate finance and underwriting, but it had done little business in more traditional areas of merchant banking. The role of the big banks in Germany was closely related to developing industries and expanding commercial opportunities. Our activities involve: Negotiation: We understand that effective time and resource management is critical to the successful completion of a transaction. 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. 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. Kleinwort Benson - Wikipedia Henry Hu holds a Master Degree of Computer Science from Columbia University and a BS in Physics from Peking University. 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. We also work selectively with early stage companies to raise venture funding. 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 fact, its international expansion had actually been underway for over a decade. www.dresdnerkc.com. We are an advisory firm specialised in in mergers and acquisitions and corporate finance with more than 25 years of experience. 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. 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. Individual investments | Coller Capital This stifled the basic expansionist impulse of the bank and cut off investment revenue. Allianz made it clear that it would either split off or scale back Kleinwort Wasserstein. The 22 companies are mainly US-based and operate in a range of business sectors. The earliest known Kleinwort to go into banking was 24-year-old Heinrich Kleinwort, a grandfather of Sir Alexander Drake Kleinwort, 1st Baronet. In the mid-1970s, Dresdner opened representative offices in London, Tokyo, and even Moscow. This is the branding that Dresdner will use for its private equity business worldwide. Our familiarity with cross border deal structures helps focus on the most effective options to maximise value creation for our clients. PDF LUCAS C. MARTIN, CFA 732 977 8657 lucascm@gmail At the same time, Kleinwort Benson expected to expand under the leadership of a strong bank, giving it solid footing for a secure future. 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. [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. 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. Our Team Leon Capital Two families, the Kleinworts and the Bensons, founded two different merchant banks in London. 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. Ms. Judy Ye is the Managing Partner of YiMei Capital. By 1989, it boasted of offices and subsidiaries in ten countries and four continents--a small empire of its own. As such, the company agreed to be acquired by Dresdner Bank AG, Germany's second-largest bank at the time. It was Rller who been behind the founding of ABD Securities in 1968, and who had arranged the Kuwaiti sale of Daimler-Benz. 2023 PitchBook. However, the merchant banks' traditional business of raising money for foreign ventures never fully recovered after the armistice, due to informal restrictions on foreign trade and increased competition from banks in New York and other up-and-coming financial centers. A month later Kleinworts agreed another loan of 1,500,000 pounds sterling at 3%. In 2002 almost all of Germany's major banks reported their worst losses in the postwar era. He has over 35 years of private equity, corporate finance, and industry experience. Prior to Dresdner, served in various capacities at Fortis Capital, Citibank and PNC. The Vienna branch of a Czech bank, Zivnostenska, was also annexed. Dresdner Kleinwort Capital is a London-based investment banking firm providing brokerage services for financial and investment products. The two German banks were in the final stages of negotiating a merger in 2000, when the deal fell apart. 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. We see them around but we don't know what goes on behind the scenes. The foundation of the Central Bank for Railway Securities by Dresdner in 1898 further cemented the relationship between the bank and the railroad industry. It was one of the few British securities firms that made a profit on equities dealing in late 1987 and early 1988. Moving to the US with PwC in 1992, he was a senior partner in M&A. Company profile page for Dresdner Kleinwort Capital Inc including stock price, company news, press releases, executives, board members, and contact information 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. In 1995, Dresdner spent about $1.58 billion to acquire the British investment bank Kleinwort Benson Group PLC. Corporate finance continued to account for a large share of its revenues and, according to The Economist, it also had "the biggest banking book of any British merchant bank, with some 3 billion of loans outstanding.".