Immediately prior to founding Langham Capital, Shiv managed two technology ventures in Europe. He is an experienced institutional investor in alternative assets in developed and emerging markets, board member of companies, public and private, in the USA, Europe and Asia, and family office executive. Kleinwort Benson - Wikipedia Reynolds finally won, acquiring 80 percent of British Aluminum stock by early 1959. Yet Dresdner Bank was, like Germany itself, impossible to keep down. Dresdner Kleinwort Capital - Web3 Crypto Company Profile, Funding The opportunity for economic growth was enormous, and the management team of Dresdner Bank seized it with a vengeance. Ms. Judy Ye is the Managing Partner of YiMei Capital. Friderichs's replacement was Wolfgang Rller, a member of Dresdner's board whose specialty was the securities business. Its internal restructuring efforts appeared to pay off, and by September 2003 DrKW had reported three consecutive quarters of growth. [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. Dresdner Kleinwort Wasserstein Capital Markets Follow About us Created in 2000 through the merger of Dresdner Kleinwort and Wasserstein Perella. This, together with issues regarding severance payments and guaranteed bonus payments, led to a number of lawsuits. The Great Aluminum War altered merchant banking by turning mergers and acquisitions into a high-profile, high-profit business. Through Kleinwort Benson, Dresdner would gain a foothold in international investment banking. 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. In Los Angeles, it purchased the services of a group of brokers specializing in interest-rate swaps and renamed it Kleinwort Benson Cross Financing. By 1989, it boasted of offices and subsidiaries in ten countries and four continents--a small empire of its own. Allianz made it clear that it would either split off or scale back Kleinwort Wasserstein. 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. Marginal return of capital The LSE share buyback proves that LSE would rather weaken its strategic position through reactive tactics than set out a clear vision for the business. 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. The firm provides mergers and acquisitions, strategic alliances, equity and debt underwriting, sales and trading, derivatives, equity research, and valuation services. Three years later, when the banking industry was stabilized by the introduction of the Rentenmark, Dresdner's share capital and reserves totaled only 100 million Rentenmarks. It tried to recover its money through foreign courts but without success. Judy has more than 20 years of global investment experiences in venture capital and private equity investments ranging from primary fund commitments, direct investments to M&A activities that span across US, Europe, and Asia, particularly in China. 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. 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. [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 September 2012, it announced that it had reached agreement with Deutsche Bank for Kleinwort Benson to acquire BHF Bank for 384 million. Judy and her team are keen to assist public welfare programs and make positive contribution to the society. 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. [12], In the 1980s, Kleinwort Benson was a pioneer in privatisation. Before joining YiMei as an Advisor, Barry was the Managing Partner at GroveStreet, where he still serves as Senior Advisor. The German debt problem continued to dog Kleinwort after the outbreak of war in 1939. In 2002 almost all of Germany's major banks reported their worst losses in the postwar era. Until mid-2003, he served as Head of Global Private Equity for Dresdner Kleinwort Capital and was a Group Board Member of Dresdner . 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,". 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. Clients include large multinationals, financial sponsors and private companies. In 1958, Robert Benson Lonsdale became embroiled in what became known as Britain's Great Aluminum War. In 1937 Dresdner was able to buy itself back from the government. PDF Dresdner Kleinwort - SEC 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. 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. Henry has many years of management consulting and entrepreneurship experience, with deep knowledge in enterprise management, operation and governance. About us Since its foundation in 1993, South Andes Capital provides mergers and acquisitions and corporate finance services to local and foreign clients. Vikram has over 20 years of experience as a strategic and financial adviser to clients worldwide. Additionally, it offers financing and securities management, private placements and IPO (Initial Public Offering) advisory, capital sourcing, and loan syndication services. ", "The Oxford Dictionary of National Biography", "Brief History of Sharps Pixley as London Bullion Market Member", "The Privatization of UK Oil Assets 1977-87: Rational Policy-Making, International Changes and Domestic Constraints", "Harrod's new owner: Mohamed Al-Fayed; a quiet acquisitor is caught in the crossfire", "Kleinwort lifts payout after turnaround: 'Good feeling of confidence' running through bank, reports chairman", "Dresdner Bank Bids $1.5 Billion For Kleinwort", Yuganskneftegaz appraisal close to completion, $1.4bn sex discrimination law suit targets Dresdner Kleinwort Waserstein, Commerzbank to Close Dresdner Kleinwort U.K. M&A Unit, Dresdner Kleinwort to cut most Japan staff, Dresdner is sued by three more bankers over bonuses, Commerzbank sued for $49m over banker bonuses, Dresdner sued for millions in with held bonuses by 72 former traders, Commerzbank drops Dresdner Kleinwort Benson, "RHJ International to Acquire Kleinwort Benson From Commerzbank", "RHJ wins Chinese backing to buy Deutsche's BHF unit", "Kleinwort Benson tax compliance business bought by Saffron Tax Partners", "IFA buys book of 1,000 Kleinwort clients in RDR clear-out", "RHJ International: Extraordinary Shareholder's Meeting Update", "Oddo completes capital raising ahead of BHF Kleinwort Benson buy", "City of London Member details Sir Alan Colin Drake Yarrow (Alderman)", "A High-Powered Deal Maker Is Named to Lead Lazard", "The chief executive of the London Stock Exchange is stepping down next year", "Luke Johnson: from Pizza Express to Patisserie Valerie", https://en.wikipedia.org/w/index.php?title=Kleinwort_Benson&oldid=1138621296, This page was last edited on 10 February 2023, at 17:31. Dresdner Kleinwort Capital is a London-based investment banking firm providing brokerage services for financial and investment products. Both parties eyed the $1.6 billion purchase as being highly beneficial. 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. 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 . The venture was found in Europe in United Kingdom. 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. But Kleinwort still had sound core businesses and the attractions to Dresdner . Its amalgamation into Dresdner proved to be the first of many changes for the firm in the upcoming years. But Dresdner did not prosper under Friderichs for long; his six years in charge were marked by mounting losses and turmoil among executives. Dresdner Shifts Asia Ex-Japan Credit Trading To Singapore 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. eTel raised $50m and the investment, made for 45pc of the company equity, was led by Dresdner Kleinwort Benson Private equity, Argus Capital partners, Greenhill Capital partners and Intel Capital. 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. 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). Privacy Policy, Astbury, Kate, "Allianz Still Half in Love,", "Finance and Economics: Death of a Deal,", "For Better, For Worse; Allianz and Dresdner Bank,", Hobday, Nicola, "Whither Dresdner Kleinwort Wasserstein,", Jenkins, Patrick, "DrKW Aims to Recapture Past Glory,", Kerr, Ian, "Can Kleinwort Elude the Vultures,", Merrell, Caroline, "Allianz Signals Disposal of DKW,", Stevenson, Richard W., "Dresdner Will Pay $1.6 Billion for Kleinwort Benson,", "Wasserstein's Acquisition Completed by Dresdner,". Kerr's People: Simon Robertson, Former chairman, Dresdner Kleinwort Mr. Morriss has spent over 20 years in private equity. [16] It assisted with the privatization of Enterprise Oil in the same year. 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. Also in 1984, Kleinwort Benson Australia acquired a 50 percent interest in Australia Gilt Company Group, a dealer in Australian government securities. 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 . Rumors began to fly that the once mighty and prestigious merchant bank would be forced to dissolve. Marco Hamm - Senior Relationship Manager, Director - LinkedIn Active, Closed, This describes the type of investor this organization is (e.g. In the mid-1970s, Dresdner opened representative offices in London, Tokyo, and even Moscow. Previously, Barry managed private equity investments at the Travelers Group and at Connecticut Mutual (Mass Mutual). Kleinwort Benson was formed in 1961 when the firm of Kleinwort, Sons & Company merged with Robert Benson, Lonsdale & Company Limited. Mr. Lambert serves as a member of Vine's investment committee and is a Board member of Village Roadshow, a Vine portfolio company. 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. Earlier, Barry worked at the Federal Reserve Bank of New York. 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 . Dresdner Kleinwort Wasserstein (DrKW) operates as the investment banking arm of Germany's Dresdner Bank AG. 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. 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. Before his time in CoWare, Isaac worked with Cadence, when the company was still a start-up, and helped grow the now billion dollar company in electronic design automation. Henry has also founded a start-up technology company which was funded by a famous VC in Shanghai. This bank crisis necessitated federal involvement: in 1931 the German government took over 90 percent of Dresdner. Though sometimes criticized for being unusually willing to assume risks, the management team of Dresdner Bank, led especially by Eugene Gutman, quickly made Dresdner the number two financial institution in Germany, behind only Deutsche Bank. The Benson family came from the Lake District and were of Quaker stock. Leadership | Christopher Wright | Fraser Finance With this purchase, Dresdner signaled a significant strategic switch. [20], In 1995, Kleinwort Benson was acquired by Dresdner Bank and, as Dresdner Kleinwort, became its investment banking arm. . The reunification of East and West Germany offered Dresdner a host of new opportunities as well. 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. He is Foundation Fellow, Corpus Christi College, Oxford. But the banks were too loyal to their customers and lent out too much money. 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. Back then, the influence of the merchant bankers extended to the far corners of the world as they provided the money that built the empire. Descriptive keyword for an Organization (e.g. In the early years of the 20th century Dresdner's continuous expansion made it a true giant of German industry. At the same time, Kleinwort Benson expected to expand under the leadership of a strong bank, giving it solid footing for a secure future. In New York, it bought ACLI Government Securities Incorporated, a U.S. government securities dealer, from the investment bank Donaldson, Lufkin & Jenrette, renaming it Kleinwort Benson Government Securities (KBGS). He helped these clients with strategic transformation and operation optimization services to improve their competitive advantages. 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. [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. In 1984, anticipating the new opportunities that the 1986 deregulation of the financial markets would bring and aware of the increasing interdependence of the world's financial markets, Kleinwort Benson redoubled its efforts, making several major acquisitions in the United States. Nonetheless, the firm suffered no permanent damage from the war, and even had slightly more capital in 1918 than it did in 1913. Meanwhile, Judy is the co-founder and managing partner of NE Social Impact Fund (NE), a dedicated impact investing fund jointly established by YiMei and NPI, Chinas largest non-profit incubator. In 1948, Robert Benson & Company Limited merged with Lonsdale Investment Trust, whom it had served as bankers, to form Robert Benson Lonsdale. Our bankers pride themselves on working closely with our clients to provide tailored advice for specific situations. learn how over 7,000 companies got started! Dresdner was not exempt. Phone: 442 - 74- 755493 Fax: 442 - 74- 756809 . After the merger's failure, Dresdner's chairman, Bernhard Walter, resigned and was replaced by Bernd Fahrholz. 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. 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. World War I and its aftermath were a disaster for almost every company in Germany. 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. Dresdner opened new branches in Hamburg in 1892 and in Bremen and London in 1895. Kleinwort Benson recognized early on that the future of merchant banking also lay over the seas. Prior to that, Steve served as a design architect in a number of well-known architectural design firms, including Ellerbe Becket, KKE, MH. 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. Kleinwort Benson's 1984 annual report spoke of the firm forming a "global chain." Dresdner Kleinwort Capital appeared to be the VC, which was created in 2001. Once again it lost branches and assets to the war's victors. Contact. [37], In November 2011 Saffron Tax Partners announced the acquisition of the private client tax compliance business from Kleinwort Benson. Dresdner Kleinwort Wasserstein (DrKW) operates as the investment banking arm of Germany's Dresdner Bank AG. 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. Allianz, which already owned 22 percent of Dresdner before the acquisition, saw Dresdner as key to this transformation. Get the full list, Morningstar Institutional Equity Research. 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. The bank struggled to regain some of its prominence during the early postwar years but then faced another reformation from the Liquidation Commission. Prior to joining YiMei Capital, Judy served as Director of Strategic Investments at HewlettPackard Company. Christopher Wright - Colle Capital He also focused on restructuring investments in small-to-medium sized German telecommunications companies for Dresdner Kleinwort Capital, the private equity arm of Dresdner . Dresdner Bank, as the fattest financial goose among the banks, was the chief target for total and irrevocable nationalization. Dresdner Kleinwort caters to corporate, finance, telecommunication, media, technology, energy, power, and retail sectors. In response, foreign bankers with loans outstanding in Germany declared that they would grant no more credit to German interests. 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. Isaac began his career at Intel, managing microprocessor based systems, micro-controller based ASICs, and computer-aided design systems. Currently, he is also an Adviser to AfricInvest, a pan-African private equity firm. The Wasserstein name was dropped in July. Neil Winward's Phone Number and Email Last Update. [33] Additional cases were brought by Dresdner Kleinwort executive committee members John McIntyre, Bertrand Pinel and Alberto Piedra in August 2009 seeking 11million. 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. Henry Hu holds a Master Degree of Computer Science from Columbia University and a BS in Physics from Peking University. Our team is comprised of experienced professionals with backgrounds in investment banking, consulting, operations, technology, and research. As it turned out, however, the year of the Big Bang was not entirely kind to Kleinwort Benson. In 2003 Dresdner's chief executive Bernd Fahrholz resigned and was replaced by Herbert Walter. He quickly became the dominant partner, and by 1883 he and his sons were in sole control of the company and had given it their family name. Previously, he was a Member of Parliament from 1983 to 2017. 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. www.dresdnerkc.com. 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. Dresdner Kleinwort Wasserstein | Encyclopedia.com The main department of described VC is located in the London. Dresdner Kleinwort Capital | MyCapital Previously, he was the head of sales, marketing and product development in CoWare, a silicon virtual prototyping start-up (acquired by Synopsys). Dresdner Kleinwort Capital is the sole private equity business of Dresdner Kleinwort Wasserstein, the investment banking division of Dresdner Bank. Dresdner Bank A.G. -- Company History He earned a BA from the University of York (England) and became a Fellow of The Institute of Chartered Accountants in England & Wales. When the Nazis assumed power in 1933, the banking crisis was far from over. 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. Team - Beechwood Capital Advisors All rights reserved. Dresdner Kleinwort Investment Banking Follow About us Created in 2000 through the merger of Dresdner Kleinwort and Wasserstein Perella. [23] In 2004, the Russian government hired Dresdner Kleinwort to value Yukos's Yuganskneftegaz which was later sold to Russian state oil major Rosneft. 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. 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. 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. New name for Dresdner Kleinwort Capital - buyoutsinsider.com In fact, its international expansion had actually been underway for over a decade. [13] It also managed the flotation of Cable & Wireless in the same year. The combination created Dresdner Kleinwort Wasserstein (DrKW), the seventh-largest corporate merger advisor in the world. This was due largely to the capital loans that Dresdner and the other leading banks made to new and developing German industries. 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. He is a director of Asset Metrix GmbH and insticube GmbH, both B2B software companies in Munich. He is a co-founding director of ROPER Technologies Inc. (NYSE); and was a director of IDOX PLC (AIM) until 2013 and non-executive Chairman of Maxcess International Corporation until 2014. 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. On the other hand, the merger left the future of DrKW in question. In the year after the crash, Dresdner was able to buy another of the major Berlin banks, Darmstadter, making Dresdner for a time the largest bank in Germany. Researched capital market developments in frontier market economies and analyzed vulnerabilities related to financing needs, reserve adequacy, asset valuation, and institutional quality . At the time, it had 4.4 million in German, Austrian, and Hungarian bills outstanding. Dresdner Kleinwort Wasserstein | LinkedIn 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. Focus Industries: Biotechnology; Business and consumer products . While remaining a partner with EMA, he became a Senior Investment Partner with Global Environment Fund in Washington DC. Additionally, it offers financing and securities management, private placements . Between 1924 and 1929, Dresdner Bank was involved in a lending policy that brought economic chaos to Germany again in 1931. In 1978, Dresdner had officially become one of the ten largest banks in the world.
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