[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. 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. 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. Prior to joining YiMei Capital, Judy served as Director of Strategic Investments at HewlettPackard Company. Allianz, which already owned 22 percent of Dresdner before the acquisition, saw Dresdner as key to this transformation. [17] Important private sector transactions at that time included the takeover of Harrods by the Fayed brothers in 1984. After World War II, Dresdner and the other large German banks were split up. In the end, the banks were not nationalized, and Dresdner Bank prospered under state-regulated capitalism. In 1986, it entered the domestic life insurance business by buying Transinternational Life from Transamerica Corporation and, even more importantly, prepared itself for the impending deregulation of the British financial markets known as the Big Bang by acquiring the securities brokerage Grieveson Grant. Steve holds an MBA from Rotman business school, University of Toronto. [39] The bank moved to new premises at St George Street in London in 2012. This bank crisis necessitated federal involvement: in 1931 the German government took over 90 percent of 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. Contact Number (***) ***-**** 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. By 1959, Kleinwort had recovered 2 million. He is Honorary Fellow, Corpus Christi College, Oxford and serves as a member of its Endowment Investment Committee. Dresdner was at first restructured into ten separate institutions. Mr. Morriss has spent over 20 years in private equity. In 1965, Kleinwort Benson entered the oil and gas business when its subsidiary Kleinwort Benson Energy began drilling on the continental shelf. 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). His clients includes: Citibank, P&G, Unilever, Lucent, China Mobile, China Telecom, China Unicom, PetroChina, Sinopec and CNOOC. Langham Capital provides expert corporate finance advisory services to companies seeking to build their global businesses. During this time he executed a variety of transactions in equity capital markets, mergers and acquisitions, privatization, and debt restructuring. Dresdner also planned to add 150 of its own branches in the former East Germany in 1991. [37], In November 2011 Saffron Tax Partners announced the acquisition of the private client tax compliance business from Kleinwort Benson. We are an advisory firm specialised in in mergers and acquisitions and corporate finance with more than 25 years of experience. Dresdner Kleinwort Capital. 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. Documentation: Legal documentation is integral for any business transaction or alliance. Kleinwort Benson Cross Financing proved to be a consistent moneymaker, while KBGS disappointed its parent's expectations. and holds a Certified Diploma in Accounting and Finance (from ACCA). Thanks to the integration of the world's financial markets, the American stock market crash of 1987 was felt around the world. [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. 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. 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. Dresdner Kleinwort, the corporate and investment banking unit of Germany's Dresdner Bank, could seek to raise capital from external partners, including financial institutions in the Middle East . In 1948, Robert Benson & Company Limited merged with Lonsdale Investment Trust, whom it had served as bankers, to form Robert Benson Lonsdale. 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. The dissolution of economic barriers between European states required German banks to extend beyond their national boundaries. The company operated as Dresdner Kleinwort Benson (DKB) after the 1995 acquisition. 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. Email. In 1967, it opened an investment bank in New York, using its strong reputation in the Eurobond market to get underwriting business. Earlier, Barry worked at the Federal Reserve Bank of New York. Previously, Shiv worked in the Mergers & Acquisitions divisions of JP Morgan and Dresdner Kleinwort in London and New York. In Los Angeles, it purchased the services of a group of brokers specializing in interest-rate swaps and renamed it Kleinwort Benson Cross Financing. Until mid-2003 he served as Head of Global Private Equity for Dresdner Kleinwort Capital and was a Group Board Member . 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. Previously, he was a Member of Parliament from 1983 to 2017. Dresdner's relationship with the Nazi government led to dire consequences after the conclusion of World War II. 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. It tried to recover its money through foreign courts but without success. Henry has many years of management consulting and entrepreneurship experience, with deep knowledge in enterprise management, operation and governance. The Great Aluminum War altered merchant banking by turning mergers and acquisitions into a high-profile, high-profit business. Angel, Fund of Funds, Venture Capital), This describes the stage of investments made by this organization (e.g. 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. It was Rller who been behind the founding of ABD Securities in 1968, and who had arranged the Kuwaiti sale of Daimler-Benz. Thanks to this poor performance, its stock price neared a four-year low in the spring of 1989. [27] Then in March 2009 it became clear that the office in Japan would close. Prior to that, Steve served as a design architect in a number of well-known architectural design firms, including Ellerbe Becket, KKE, MH. Kleinwort Benson did not fare as well in the second half of 1988. Langham will evaluate the deal and provide a valuation range using variables from both macro and micro levels. As consumers, we often take for granted all the hard work that goes into building a great company. Engage via Email. 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. They needed foreign capital coming in to pay the interest. Their activities range from helping clients raise capital and execute their most strategic moves to offering straightforward loans, structured finance or delivering asset liability driven transactions. The resulting Kleinwort Benson Lonsdale held assets of 60 million. Soon after the Allianz merger, though, Dresdner stumbled badly. In 1884 Dresdner Bank moved its headquarters from Dresden to Berlin and then spent the rest of the decade expanding even more vigorously. [31] Former senior managers Martin Newson, Eduardo Listorti and Michael Adams sued but settled out of court. Hon the Lord Lilley is a British Conservative Party politician who joined the House of Lords in June 2018. By 1989, it boasted of offices and subsidiaries in ten countries and four continents--a small empire of its own. 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). The war dried up all opportunities for continued expansion and placed a tremendous burden on German industry, forcing it to produce the materials necessary for war on an unprecedented scale. VP to Director and Managing Director at Dresdner Kleinwort, MetLife, GE Capital-Genworth Financial 1998 - 2007 9 years. 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. With the Soviet occupation of East Germany, all of Dresdner's offices east of the Oder-Neisse line were closed permanently. The company was already anchored by a strong domestic presence and its American subsidiary, ABD Securities. [13] It also managed the flotation of Cable & Wireless in the same year. At the high point of economic chaos, in 1923, Dresdner held assets of 204 trillion marks. He served as Chairman of various investment funds prior to and following the latter's integration with Allianz SE. "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. Late in 1987, Kleinwort Benson sold a 1.5 percent stake to Sumitomo Life Insurance, and Consolidated Gold Fields bought a 50 percent interest in Kleinwort Benson Energy. 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. Previous roles included CFO at Vision Capital, GP at EQT, and Finance and Investor Relations Director at Terra Firma. Dresdner immediately took advantage of its situation and became the first German bank to open an office overseas after World War II when it established a representative station in Istanbul in the late 1950s. [9] Kleinwort Benson worked on several major mergers and acquisitions at this time including the merger of Cadbury with Schweppes in 1969. learn how over 7,000 companies got started! Dresdner Kleinwort Benson Private Equity has changed its brand name to Dresdner Kleinwort Capital. 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. He serves on the board of the UK charity, The Sutton Trust, and is an Advisory Director of the Scientific Exploration Society in the UK. Steve has more than 25 years of rich experience in real estate & sport, especially in areas of real estate development, investment, M&A, change management. Kleinwort took on more domestic underwriting business than it had in the past, but it also embarked on unsuccessful forays into shipbuilding, cotton manufacturing, and fire insurance. Henry Hu holds a Master Degree of Computer Science from Columbia University and a BS in Physics from Peking University. Dresdner Kleinwort offers investment banking services. Robert Benson Lonsdale's strengths lay in corporate finance and underwriting, but it had done little business in more traditional areas of merchant banking. [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. 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 . When the Nazis assumed power in 1933, the banking crisis was far from over. Dresdner opened new branches in Hamburg in 1892 and in Bremen and London in 1895. Dresdner Kleinwort Wasserstein (DrKW) operates as the investment banking arm of Germany's Dresdner Bank AG. Mr. Wright is Chairman of the Advisory Board at YiMei Capital. St. James Press, 2004. [12], In the 1980s, Kleinwort Benson was a pioneer in privatisation. Our colleagues at Financial News scoured the U.K.'s regulatory register for details of the 72 former Dresdner Kleinwort fixed income traders who Tuesday filed for a total of 34 million ($49 . Phone Number +49 69 740987 Dresdner Kleinwort advise clients, provide financing and supply liquidity. Dresdner Kleinwort Wasserstein Capital Markets Follow About us Created in 2000 through the merger of Dresdner Kleinwort and Wasserstein Perella. Kleinwort relocated to London in 1855. In 1978, Dresdner had officially become one of the ten largest banks in the world. The trend towards consolidation in the European banking industry continued in the late 1990s and early in the new century. 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. OCCUPATIONAL DEVELOPMENT 1990 - 1992 Dresdner Bank AG, Frankfurt a.M., Germany, Apprenticeship 1993 - 1995 Dresdner Bank AG, Offenbach a.M., Germany, Customer Consultant 1995 - 1996 Dresdner Bank AG, Frankfurt a.M., Germany, Client Service Officer - Securities Department 1996 - 1998 Dresdner Bank AG, Frankfurt a.M., Germany, Senior CSO<br>1998 - 1999 Dresdner Kleinwort Benson . 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. . This was due largely to the capital loans that Dresdner and the other leading banks made to new and developing German industries. Dresdner Bank A.G. Its amalgamation into Dresdner proved to be the first of many changes for the firm in the upcoming years. But Kleinwort still had sound core businesses and the attractions to Dresdner . Before the year was out, the house had sold a 4.9 percent interest to American Can, which sold its shares to Morgan Stanley International several months later. 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. [16] It assisted with the privatization of Enterprise Oil in the same year. The burden of Germany's heavy war reparations stultified the entire economy. 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. Langham Capital provides expert corporate finance advisory services to companies seeking to build their global businesses. The foundation of the Central Bank for Railway Securities by Dresdner in 1898 further cemented the relationship between the bank and the railroad industry. They merged in 1961 to create Kleinwort Benson Lonsdale, later Kleinwort Benson. Firms with international interests as extensive as Dresdner's experienced crushing setbacks as they lost vast international securities and capital holdings. It was one of the few British securities firms that made a profit on equities dealing in late 1987 and early 1988. 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. 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. 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. 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. 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. Allianz AG, a large German insurance group, made a $22 billion play for Dresdner, adding it to its arsenal in late 2001. Shiv began his career with the Tata Group of Companies in India. 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. Dresdner was not exempt. Both Dresdner and Allianz have suffered since this merger because of problems with Dresdner's investment bank business, Dresdner Kleinwort Wasserstein. Traditionally, merchant bankers had to live with uncertainty as an inherent fact of business life. In 1988, Kleinwort Benson sold a 25 percent interest in KBGS to Fuji Bank. He was Acting Global Head of Private Equity and Infrastructure Investments at Standard Bank Ltd of South Africa from 2005-6. Among the most popular fund investment industries, there are Business Intelligence, Information Technology. This stifled the basic expansionist impulse of the bank and cut off investment revenue. Dresdner continued to expand, opening branches in Singapore and New York in 1972. Shanghai Jinjia Network Technology Co., Ltd. n***@orix.com. In 1937 Dresdner was able to buy itself back from the government. World War I and its aftermath were a disaster for almost every company in Germany. Of the four endeavors, the community of interest with Schaffhausenschor increased Dresdner's power the most. [2] For example it became part of a syndicate that marketed shares in the Illinois Central Railroad in 1852. He is co-founder and member of the executive committee of Roper Technologies Inc (NYSE listed, S+P 500, a Florida based large-cap diversified software, medtech and technology instrumentation company) whose audit committee he also chars. [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. Angel, Fund of Funds, Venture Capital). Dresdner also pioneered the way for foreign stock shares to be traded on West German exchanges at about this time. However, KBGS seldom participated in auctions, nor was its familiarity with the demand for treasury securities as strong as had been hoped. learn how over 7,000 companies got started! Dresdner Kleinwort Capital is a London-based investment banking firm providing brokerage services for financial and investment products. 2022 Langham Capital. DRESDNER KLEINWORT, COMMERZBANK AG New York, NY Analyst, Foreign Exchange Sales July 2008 - August 2009 On the other hand, the merger left the future of DrKW in question. 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. We also work selectively with early stage companies to raise venture funding. Prior to this, he worked in the investment banking and corporate finance division of Credit Suisse, based in Mumbai, Singapore and Hong Kong, and the investment banking arm of Barclays Bank (then known as BZW), based in New Delhi. Dresdner Kleinwort Capital's growth plans include the [] 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. Reunification meant more than gaining domestic strength for the new Dresdner Bank: it meant the bank could expand once again. We pride ourselves on the strength of our relationships, the integrity of our advice and a thorough analytical approach to our work. Company profile page for Dresdner Kleinwort Capital Inc including stock price, company news, press releases, executives, board members, and contact information As such, the company agreed to be acquired by Dresdner Bank AG, Germany's second-largest bank at the time. While remaining a partner with EMA, he became a Senior Investment Partner with Global Environment Fund in Washington DC. Before focusing on India, Hugh was managing director and head of the telecommunications practice at Dresdner Kleinwort, where he had earlier specialized in merger and acquisition and financing transactions for energy and utility companies, with a focus on the UK, Germany and Russia. Previously, Barry managed private equity investments at the Travelers Group and at Connecticut Mutual (Mass Mutual). DrKW became a member of the world's fourth-largest financial institution later that year when Dresdner Bank merged with the Allianz Group. [22] The Frankfurt branch of the bank was instrumental in initiating trading in emissions credits in 2003. Nonetheless, Kleinwort Benson survived the crisis in better shape than its competitors. 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. Soon thereafter, Dresdner began merger talks with Commerzbank AG, the second largest bank in Germany, though these negotiations were also scuttled. The union created the world's fourth-largest financial group, leaving Dresdner in an enviable position. Undeterred, Dresdner continued to look for opportunities to bolster its holdings, especially for its investment banking arm. The merger fell through, however, after it became apparent that DKB would be carved up as a result of the deal. At the time, it had 4.4 million in German, Austrian, and Hungarian bills outstanding. B-22, Jungpura Extension, New Delhi - 110014, India, 28 Devonport, 23 Southwick Street, London, England, W2 2QF. 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 In fact, its international expansion had actually been underway for over a decade. All rights reserved. [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? 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. 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. 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. Head of Renewable Energy, Head of Utilities Debt Origination, and Senior Project and Acquisition Finance Director at Dresdner Kleinwort. He also focused on restructuring investments in small-to-medium sized German telecommunications companies for Dresdner Kleinwort Capital, the private equity arm of Dresdner . Once again it lost branches and assets to the war's victors. Clients include large multinationals, financial sponsors and private companies. When Kleinwort and Robert Benson Lonsdale merged in 1961, The Economist described it as "a marriage of essentially complementary partners." Yet Dresdner Bank was, like Germany itself, impossible to keep down. [29], In February 2009 the Commerzbank management announced that no bonuses would be paid across the Commerzbank group including Dresdner Kleinwort. 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. Andreas T. Angelopoulos has more than 30 years of experience in private equity, asset management, investment banking and engineering. As a result, merchant banks had to diversify and shuck their traditional specialist status. Dresdner Kleinwort Capital is the sole private equity business of Dresdner Kleinwort Wasserstein, the investment banking division of Dresdner Bank. Principal Competitors: Allen & Company Inc.; Credit Suisse First Boston Corp.; Lazard LLC. The combination created Dresdner Kleinwort Wasserstein (DrKW), the seventh-largest corporate merger advisor in the world. 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. Barry brings decades of rich investment experiences to the YiMei team. This hurt Dresdner even more than had the lack of expansion during the war years. Dresdner Kleinwort Capital is a London-based investment banking firm providing brokerage services for financial and investment products. 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. 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. [14] It next advised on the privatisation of Associated British Ports in 1983. Mr. Wright has been a director of Merifin Capital NV, a private European family owned investment firm since 1987. Get the full list, Youre viewing 10 of 24 services on a deal sell side. Also in 1984, Kleinwort Benson Australia acquired a 50 percent interest in Australia Gilt Company Group, a dealer in Australian government securities. [33] Additional cases were brought by Dresdner Kleinwort executive committee members John McIntyre, Bertrand Pinel and Alberto Piedra in August 2009 seeking 11million. He was a director at CirclePlusInvest, in charge of investment and post-investment management. Nonetheless, the firm suffered no permanent damage from the war, and even had slightly more capital in 1918 than it did in 1913. Mr. Wright was educated at Oxford University and holds a Certified Diploma in Accounting and Finance from ACCA. Mr. Wright has been a director of Merifin Capital NV, a private European family owned investment firm since 1987. He qualified as a Chartered Accountant with Price Waterhouse, London. Immediately prior to founding Langham Capital, Shiv managed two technology ventures in Europe. Isaac has held several positions in various companies, most recently as the Chief Strategy Officer of L&T Technology Services. [5], In 1786, Robert Benson, a Quaker, joined with William Rathbone IV of the existing house of William Rathbone & Co. to form Rathbone & Benson, a Liverpool business trading mainly with America. 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 . 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 . Additionally, it offers financing and securities management, private placements and IPO (Initial Public Offering) advisory, capital sourcing, and loan syndication services.