Langham will evaluate the deal and provide a valuation range using variables from both macro and micro levels. 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. 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. This, together with issues regarding severance payments and guaranteed bonus payments, led to a number of lawsuits. Dresdner again pioneered overseas business dealings by becoming the first firm to set up a German bank outside of its own borders, opening the Company Luxemburgeoise de Banque S.A. in Luxembourg in 1967. Nonetheless, Kleinwort Benson's share of the British equities market remained at 5 percent in 1989, not enough to put it in the front ranks of Britain's securities firms. 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. In addition, Kleinwort Benson's Australian banking and securities operations were sold to Security Pacific in October 1989. World War I and its aftermath were a disaster for almost every company in Germany. In her earlier career, Judy worked as M&A project manager at PepsiCo, New York. [24] In January 2006, the bank became the target of a US$1.4billion class action suit by six employees alleging bias and systematic discrimination against female workers. Prior to joining YiMei Capital, Judy served as Director of Strategic Investments at HewlettPackard Company. Documentation: Legal documentation is integral for any business transaction or alliance. [42] Then in June 2016, Socit Gnrale acquired Kleinwort Benson from Oddo et Cie.[43] It merged the bank with its existing private banking subsidiary SG Hambros in November 2016 to form Kleinwort Hambros. In the first two cases, the firm found itself with unprofitable investments in failing companies that it was also forced to manage; in the third, it loaned money to insurance entrepreneur Clarence Hatry, only to lose all of it when Hatry was convicted of fraud in 1929. Among the most popular fund investment industries, there are Business Intelligence, Information Technology. In 1988, Kleinwort Benson sold a 25 percent interest in KBGS to Fuji Bank. In 1978, Dresdner had officially become one of the ten largest banks in the world. He is also a Visiting Senior Fellow at the LSE IDEAS diplomacy and strategy think-tank at the London School of Economics. [31] Former senior managers Martin Newson, Eduardo Listorti and Michael Adams sued but settled out of court. Dresdner followed suit, engineering an enormous $30 billion deal with Deutsche Bank. Dresdner Kleinwort Capital Inc - Company Profile and News He started his career at Standard Chartered Bank. The role of the big banks in Germany was closely related to developing industries and expanding commercial opportunities. Despite its turnaround, Kleinwort Benson continued to face increased competition from its larger U.S. and European counterparts. He qualified as a Chartered Accountant with Price Waterhouse, London. Vasileios Katsikiotis - Director, Balance Sheet Solutions - LinkedIn 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. [14] It next advised on the privatisation of Associated British Ports in 1983. 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. However, KBGS seldom participated in auctions, nor was its familiarity with the demand for treasury securities as strong as had been hoped. Kerr's People: Simon Robertson, Former chairman, Dresdner Kleinwort and holds a Certified Diploma in Accounting and Finance (from ACCA). 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. Source: International Directory of Company Histories, Vol.60. [32] Other executives (Areski Iberrakene, Efstratios Hatzistefanis, Kaveh Taleghani and Stefan Guetter) won their bonus suits against the bank in August 2009. Until mid-2003, he served as Head of Global Private Equity for Dresdner Kleinwort Capital and was a Group Board Member of Dresdner . Two families, the Kleinworts and the Bensons, founded two different merchant banks in London. 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.). The company's fortunes took a tumble once again in the early 1990s due in part to its attempts to diversify its holdings. He received his Master of Architecture degree from University of Minnesota, and his bachelor of Architecture degree from Tsinghua University. Source: International Directory of Company Histories, Vol. In 1952 the 11 regional banks were turned into three successor institutions of Dresdner Bank. 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. Mr. Wright has been a director of Merifin Capital NV, a private European family owned investment firm since 1987. Under Rller, Dresdner began to prosper again. German insurance group Allianz has pursued a discriminatory hiring and firing policy at Dresdner Kleinwort, one of London's oldest investment banking businesses, designed to people senior. In 2003 Dresdner's chief executive Bernd Fahrholz resigned and was replaced by Herbert Walter. Re/Unification in the Late 1980s and 1990s. Dresdner became involved in yet another deal later that year. [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. [18], The firm also worked on overseas privatisations advising the Italian government on the IPO of Enel in 1993. 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 mid-1970s, Dresdner opened representative offices in London, Tokyo, and even Moscow. Kleinwort's profitable activities in precious metals and foreign currency trading during this decade helped offset these fiascos. The trend towards consolidation in the European banking industry continued in the late 1990s and early in the new century. In the end, the banks were not nationalized, and Dresdner Bank prospered under state-regulated capitalism. 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. Langham Capital 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. 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. Its size increased in 1939, when Lnderbank, the second largest bank in Austria, merged with Dresdner after the Anschluss in Austria. Previously at Dresdner Kleinwort Wasserstein as head of the NY Leveraged Finance Group and founded the Real Estate and Public Finance Groups. Nonetheless, Kleinwort Benson survived the crisis in better shape than its competitors. Both houses were British merchant banks of long standing. The short-lived Weimar Republic (1918-23) was also difficult for Dresdner Bank. The Kleinwort Benson Group, the largest of a fast-dwindling corps of independently owned British investment banks, said today that it was negotiating to be acquired by Dresdner Bank A.G. of . [29], In February 2009 the Commerzbank management announced that no bonuses would be paid across the Commerzbank group including Dresdner Kleinwort. In fact, its international expansion had actually been underway for over a decade. They merged in 1961 to create Kleinwort Benson Lonsdale, later Kleinwort Benson. 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. Andreas T. Angelopoulos has more than 30 years of experience in private equity, asset management, investment banking and engineering. In 1948, Robert Benson & Company Limited merged with Lonsdale Investment Trust, whom it had served as bankers, to form Robert Benson Lonsdale. All rights reserved. Dresdner Kleinwort Capital | MyCapital Dresdner continued to expand, opening branches in Singapore and New York in 1972. A month later Kleinworts agreed another loan of 1,500,000 pounds sterling at 3%. They needed foreign capital coming in to pay the interest. This hurt Dresdner even more than had the lack of expansion during the war years. 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. In 1884 Dresdner Bank moved its headquarters from Dresden to Berlin and then spent the rest of the decade expanding even more vigorously. analysing the strategic implication of transactions, structuring the transaction to ensure the most effective long term benefits for both parties, structuring payment terms to ensure the best valuation for all parties, ensuring effective tax and exchange rate management within the relevant regulatory framework, doing an 'as is' valuation of the business, determining the right price to pay or accept for the business, determining the capital structure of a transaction, determining the earn out element of the valuation, Assessing the capital structures of our clients, and advising them on appropriate funding choices, Advising our clients on the suitability of particular investors, Building a funding strategy with our clients which is tailored to their particular needs, whilst paying attention to the clients positioning within a broader market context, Assisting in the valuation of our clients and creating marketing documents, including teasers, Information Memoranda, and Management Presentations, Managing discussions between our clients and investors, Assisting negotiation sessions, and guiding clients step-by-step towards successful transaction closure. [13] It also managed the flotation of Cable & Wireless in the same year. Neil Winward's Phone Number and Email Last Update. He served until 2005 on the board of Genaissance Pharmaceuticals (NASDAQ). 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. Previously, he was the head of sales, marketing and product development in CoWare, a silicon virtual prototyping start-up (acquired by Synopsys). 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. Dresdner Kleinwort/New York NY - Company Profile and News In 2001 Dresdner was acquired by Allianz AG, a global insurance provider that saw the takeover as a way of bolstering its financial management arm. The 1960s and 1970s were years of fierce activity for merchant banks, marked by increased competition both from foreign firms and from domestic rivals spurred on by a 1971 Bank of England policy statement encouraging looser regulation of British financial institutions. 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. The main department of described VC is located in the London. In September 2000, Dresdner opted to beef up its investment banking operations again, when it acquired Wasserstein Perella, a New York investment bank that had played an advisory role in the merger of Time Warner, Inc. and America Online, Inc. Wasserstein gave Dresdner a stronger presence in the United States, as well as a boost in its American mergers and acquisitions business. Kleinwort Benson was a leading investment bank that offered a wide range of financial services from offices throughout the United Kingdom and Channel Islands. 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. As consumers, we often take for granted all the hard work that goes into building a great company. As a measure of the subsidiary's, and Dresdner's, American prominence, ABD's chief, Theodor Schmidt-Scheuber, was the first foreigner to be made head of an American stock exchange, in Boston. His clients includes: Citibank, P&G, Unilever, Lucent, China Mobile, China Telecom, China Unicom, PetroChina, Sinopec and CNOOC. Vikram has over 20 years of experience as a strategic and financial adviser to clients worldwide. In Chicago, it acquired the institutional and funds operations of Virginia Trading Corporation, a futures brokerage. Managing Director at Millburn Capital Group and Amper Investment Banking. Prior to this, he was the EVP and head of the Product Engineering Services division managing worldwide sales and delivery and was also the CEO of GDA Technologies which was acquired by L&T. Phone: 442 - 74- 755493 Fax: 442 - 74- 756809 . This bank crisis necessitated federal involvement: in 1931 the German government took over 90 percent of Dresdner. Langham Capital provides expert corporate finance advisory services to companies seeking to build their global businesses. Allianz AG, a large German insurance group, made a $22 billion play for Dresdner, adding it to its arsenal in late 2001. 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. 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 Bank A.G. -- Company History As it turned out, however, the year of the Big Bang was not entirely kind to Kleinwort Benson. Dresdner Kleinwort Benson In September 2004, Coller Capital's fund acquired a $90 million portfolio of companies from Dresdner Kleinwort Benson. [23] In 2004, the Russian government hired Dresdner Kleinwort to value Yukos's Yuganskneftegaz which was later sold to Russian state oil major Rosneft. The reunification of East and West Germany offered Dresdner a host of new opportunities as well. Company profile page for Dresdner Kleinwort Capital Inc including stock price, company news, press releases, executives, board members, and contact information Phone Number +49 69 740987 Dresdner Kleinwort advise clients, provide financing and supply liquidity. Four years entrepreneurship experience gave Henry very solid training in starting up company, including team building, fund raising, operation & governance, product development, sales & marketing. Dresdner Kleinwort Benson Private Equity has changed its brand name to Dresdner Kleinwort Capital. The two companies ironed out the terms of the agreement, completing the $1.4 billion transaction in January 2001. When the Nazis assumed power in 1933, the banking crisis was far from over. Contact. 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. Dresdner and Deutsche Bank almost joined this merger frenzy. Immediately prior to founding Langham Capital, Shiv managed two technology ventures in Europe. Kleinwort had strong overseas connections thanks to its history of involvement in foreign trade but was weak in corporate finance and investment banking. 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. Dresdner Kleinwort Wasserstein has moved its Tokyo-based Asia ex-Japan credit derivatives trading operation to Singapore as part of an on-going effort to build its capital markets presence in. DRESDNER KLEINWORT, COMMERZBANK AG New York, NY Analyst, Foreign Exchange Sales July 2008 - August 2009 This stifled the basic expansionist impulse of the bank and cut off investment revenue. Andreas T. Angelopoulos - Chairman Private Markets - LinkedIn 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. [34], In September 2009 Commerzbank decided to abandon use of the Dresdner Kleinwort name[35] and, in October 2009, sold the firm, by then renamed Kleinwort Benson, to RHJ International. TEAM_YiMei Capital 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. Leadership | Christopher Wright | Fraser Finance Dresdner Kleinwort offers investment banking services. Henry developed domain knowledge and personal network in TMT, Energy, Consumer and Financial Industries. In 1995, Dresdner spent about $1.58 billion to acquire the British investment bank Kleinwort Benson Group PLC. [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. The dissolution of economic barriers between European states required German banks to extend beyond their national boundaries. However, S.A. Warburg, another London banking house of long standing, sided with Reynolds, producing a bitter and divisive rupture in London's merchant-banking fraternity. 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 . 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. He has 35 years' experience in investment banking, capital markets, corporate and private banking and asset management with a particular focus on risk management. Kleinwort Benson was a leading investment bank that offered a wide range of financial services from offices throughout the United Kingdom and Channel Islands. Mr. Morriss has been Treasurer and a member of the Board of The Margaret Thatcher Foundation since 1997. 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 Liquidation Commission was formed by the occupation forces to study the roles that various companies and industries had played in the war economy of Nazi Germany. Allianz, which already owned 22 percent of Dresdner before the acquisition, saw Dresdner as key to this transformation. Anne began her financial services career at Dresdner Kleinwort Wasserstein. Dresdner Kleinwort Capital appeared to be the VC, which was created in 2001. Robert Benson Lonsdale's strengths lay in corporate finance and underwriting, but it had done little business in more traditional areas of merchant banking. Kleinwort Benson did not fare as well in the second half of 1988. The company operated as Dresdner Kleinwort Benson (DKB) after the 1995 acquisition. Steve was the vice president of CCDI group, general manager at both of its Sports and Overseas division.
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