PDF LUCAS C. MARTIN, CFA 732 977 8657 lucascm@gmail The dissolution of economic barriers between European states required German banks to extend beyond their national boundaries. We see them around but we don't know what goes on behind the scenes. Dresdner was not exempt. Leadership | Christopher Wright | Fraser Finance 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. Team Calderwood Capital | UK The Depression proved disastrous for many British merchant banks, slowing foreign trade to a virtual standstill. [31] Former senior managers Martin Newson, Eduardo Listorti and Michael Adams sued but settled out of court. Yarrow, who has spent his entire career in equities, has effectively been taken over twice, first by . Admittedly, "whenever I've felt like moving, something's happened to the firm where I've been working," he says. 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. 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. The trend towards consolidation in the European banking industry continued in the late 1990s and early in the new century. Soon after the Allianz merger, though, Dresdner stumbled badly. On the other hand, the merger left the future of DrKW in question. He has over 35 years of private equity, corporate finance, and industry experience. St. James Press, 2004. [21] It added global reach through the acquisition of the US investment bank Wasserstein Perella in 2001 (from Bruce Wasserstein). Our Team Leon Capital About Us - Socit Gnrale Between 1924 and 1929, Dresdner Bank was involved in a lending policy that brought economic chaos to Germany again in 1931. Currently, he is also an Adviser to AfricInvest, a pan-African private equity firm. He was the top ranked sell-side analyst for several years before leaving for Switzerland.He is a graduate of Strathclyde University and the London School of Economics. 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. He was Acting Global Head of Private Equity and Infrastructure Investments at Standard Bank Ltd of South Africa from 2005-6. The European banking sector as a whole began to experience a wave of merger activity in the late 1990s and into the 2000s. Phone: 442 - 74- 755493 Fax: 442 - 74- 756809 . Researched capital market developments in frontier market economies and analyzed vulnerabilities related to financing needs, reserve adequacy, asset valuation, and institutional quality . 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. With the Soviet occupation of East Germany, all of Dresdner's offices east of the Oder-Neisse line were closed permanently. Mr. Morriss has spent over 20 years in private equity. [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. The Rt. It was Rller who been behind the founding of ABD Securities in 1968, and who had arranged the Kuwaiti sale of Daimler-Benz. 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 . Its size increased in 1939, when Lnderbank, the second largest bank in Austria, merged with Dresdner after the Anschluss in Austria. 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. Kleinwort Benson recognized early on that the future of merchant banking also lay over the seas. Under Rller, Dresdner began to prosper again. "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. [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 article went on to report, "As equity markets have weakened and mergers-and-acquisitions business has dried up, trading revenues have fallen by more than half, and fees and commissions have dropped by more than one-eighth.". Dresdner Bank A.G. In response, Kleinwort joined the industry-wide trend toward raising money for domestic industry in the 1920s. Steve was the vice president of CCDI group, general manager at both of its Sports and Overseas division. Dresdner Kleinwort Securities LLC 1301 Avenue of the Americas New York, NY 1001 9-61 63 June 15,2007 Securities and Exchange Commission 100 F Street, N.E. PDF Dresdner Kleinwort - SEC 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. In 1986, The Economist called Kleinwort Benson the "great white hope of British merchant banking," stating that Kleinwort Benson and S.A. Warburg were the only British merchant banks poised to become world-class financial institutions. Reynolds finally won, acquiring 80 percent of British Aluminum stock by early 1959. Its internal restructuring efforts appeared to pay off, and by September 2003 DrKW had reported three consecutive quarters of growth. Jonathan Agnew, who succeeded Michael Hawkes as chief executive of the Kleinwort Benson Group in 1989, staked the firm to the prospect of becoming an integrated investment bank based on the conviction that a strong securities business would help market the products generated by the bank's other activities. 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. Isaac began his career at Intel, managing microprocessor based systems, micro-controller based ASICs, and computer-aided design systems. 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. 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.). 4/30/2023 2:00 AM. DrKW became a member of the world's fourth-largest financial institution later that year when Dresdner Bank merged with the Allianz Group. [14] It next advised on the privatisation of Associated British Ports in 1983. 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. He is a Non-Executive Director of JPMorgan Indian Investment Trust PLC, and has held Non-Executive Director roles at three other companies in the UK and India. Kleinwort Benson - Wikipedia Shiv began his career with the Tata Group of Companies in India. In 1988, American International Group acquired a 5.3 percent interest in Kleinwort Benson. Finally, we can read about how these great companies came about with Company Histories.. [3] Edward Cohen and James Drake joined the firm in the 1830s and for a while it was known as Drake, Kleinwort and Cohen; it was then renamed Kleinwort, Sons and Company in the 1880s. 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. Kleinwort Benson's 1984 annual report spoke of the firm forming a "global chain." 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,". With its place in the securities industry somewhat uncertain, the future of Agnew's vision of Kleinwort Benson as a fully integrated investment bank appeared equally up in the air. Dresdner Kleinwort Benson Private Equity has changed its brand name to Dresdner Kleinwort Capital. Our team is comprised of experienced professionals with backgrounds in investment banking, consulting, operations, technology, and research. He was until 2014 non-executive Chairman of Maxcess International Corporation (a US based industrial controls business), and a founding board member of IDOX Plc (AIM), a leader in e-government software in the UK. Barry brings decades of rich investment experiences to the YiMei team. Traditionally, merchant bankers had to live with uncertainty as an inherent fact of business life. He is also a non-executive Director of Baroda Pioneer Asset Management and Chairman of F1F9 (India). Dresdner's relationship with the Nazi government led to dire consequences after the conclusion of World War II. He is Honorary Fellow, Corpus Christi College, Oxford and serves as a member of its Endowment Investment Committee. 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. He was a Cabinet Minister in the governments of Margaret Thatcher and John Major, and served as Secretary of State for Social Security, Secretary of State for Trade and Industry, and Financial Secretary. 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. 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. The foundation of the Central Bank for Railway Securities by Dresdner in 1898 further cemented the relationship between the bank and the railroad industry. Its ability to overcome hardships and the market downturn had secured it a short-term future with Allianz. [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. Since 2016, Andreas is the Chairman and the Chief Investment Officer, Private Markets in Gestron Asset Management investing in private equity and private credit primaries funds, secondaries funds and direct co investments in USA and Europe.<br><br>Before that . In Los Angeles, it purchased the services of a group of brokers specializing in interest-rate swaps and renamed it Kleinwort Benson Cross Financing. At the same time, Kleinwort Benson expected to expand under the leadership of a strong bank, giving it solid footing for a secure future. All rights reserved. The reunification of East and West Germany offered Dresdner a host of new opportunities as well. 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. In response to the challenging business environment, DrKW implemented a series of cost-cutting strategies in order to shore up its bottom line. Eddie Listorti - Viridios Capital Dresdner Kleinwort open to tie-ups | Financial Times [19] In the United Kingdom it advised on Carlton Communications' 723million takeover of Central Television in the same year. Thanks to the integration of the world's financial markets, the American stock market crash of 1987 was felt around the world. 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. Henry developed domain knowledge and personal network in TMT, Energy, Consumer and Financial Industries. He joined Dresdner Kleinwort after working in the mergers and acquisition group at Merrill Lynch in New York and Tokyo. Hon the Lord Lilley is a British Conservative Party politician who joined the House of Lords in June 2018. 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). The worldwide slump in bond prices, a decrease in mergers and acquisitions activity in Britain, and problems with Kleinwort Benson's settlement system all hurt its financial performance and left it in need of capital. Thanks to this poor performance, its stock price neared a four-year low in the spring of 1989. 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. In the early years of the 20th century Dresdner's continuous expansion made it a true giant of German industry. Because of its traditional reliance on trade with Germany, Kleinwort was hit harder than most of its competitors by the crisis. 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. The trouble lies in Dresdner's 'corporates and markets' division, which includes Dresdner Kleinwort Wasserstein." Source: International Directory of Company Histories, Vol. The burden of Germany's heavy war reparations stultified the entire economy. The role of the big banks in Germany was closely related to developing industries and expanding commercial opportunities. 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. All rights reserved. Mr. Wright has been a director of Merifin Capital NV, a private European family owned investment firm since 1987. 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 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 Kleinwort Capital is a London-based investment banking firm providing brokerage services for financial and investment products. This is the branding that Dresdner will use for its private equity business worldwide. Nonetheless, Kleinwort Benson survived the crisis in better shape than its competitors. Neil Winward - Managing Director, ORIX Spec.. - ORIX USA | ZoomInfo Dresdner Bank, as the fattest financial goose among the banks, was the chief target for total and irrevocable nationalization. Contact: Beverley Hunt, Partner Email this Investor. Also, Dresdner and the other big banks carried too much foreign credit. 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. Kleinwort relocated to London in 1855. 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. When the Nazis assumed power in 1933, the banking crisis was far from over. Among the most popular fund investment industries, there are Business Intelligence, Information Technology. 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. 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. 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. Active, Closed, This describes the type of investor this organization is (e.g. Such an attitude was not surprising, coming from a man who was elevated to chairman of Kleinwort Grieveson Securities in 1987, following the acquisition of Grieveson, Grant and Company, in an effort to give the former Grieveson Grant younger and more aggressive leadership. Dresdner Kleinwort Wasserstein (DrKW) operates as the investment banking arm of Germany's Dresdner Bank AG. Mr. Wright is Emeritus Director of Campbell Lutyens @ Co. Ltd, a leading private equity and infrastructure focused investment banking firm based in London. 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. 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. Shiv has a Bachelors degree in Economics from the University of Sussex, a Masters degree in Development Economics from the University of East Anglia and an MBA from London Business School. Until mid-2003 he served as Head of Global Private Equity for Dresdner Kleinwort Capital and was a Group Board Member . 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. 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. Final Cash Offers by Nightingale Acquisition Limited (A Nevertheless, Kleinwort survived the Depression, while other merchant banks either folded or needed a handout from the Bank of England. 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. World War I caused trouble for British merchant banks by disrupting foreign trade, and Kleinwort, which relied considerably on business in Germany, was among the hardest hit. 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. Dresdner also continued its pan-European development when it forged an alliance with Banque Nationale de Paris (BNP), one of the three largest banks in France, in 1991. www.dresdnerkc.com. In 1884 Dresdner Bank moved its headquarters from Dresden to Berlin and then spent the rest of the decade expanding even more vigorously. "We had 20 billion when we should have had a minimum of 50 billion," he says. 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. He has advised on major privatizations, investor relations, mergers & acquisitions, debt restructuring and public offerings for clients such as the Government of India, the Government of the state of Orissa (India), Indian Oil Corporation, the Tata Group, Wipro, rediff.com, Sterlite, EXL Service, Religare and Genpact, while based in Delhi, Mumbai, Hong Kong and Singapore. Nonetheless, the firm suffered no permanent damage from the war, and even had slightly more capital in 1918 than it did in 1913. Principal Competitors: Allen & Company Inc.; Credit Suisse First Boston Corp.; Lazard LLC. 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 . Team - Beechwood Capital Advisors 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. Dresdner earned recognition in 1974 for its adroit handling of the sale of the Quandt family's 10 percent share of Daimler-Benz to Kuwait, the largest deal of the kind at the time. It was one of the few British securities firms that made a profit on equities dealing in late 1987 and early 1988. He received his Master of Architecture degree from University of Minnesota, and his bachelor of Architecture degree from Tsinghua University. Previously, Shiv worked in the Mergers & Acquisitions divisions of JP Morgan and Dresdner Kleinwort in London and New York. 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 . 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. 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. Friderichs's replacement was Wolfgang Rller, a member of Dresdner's board whose specialty was the securities business. Immediately prior to founding Langham Capital, Shiv managed two technology ventures in Europe. In the mid-1970s, Dresdner opened representative offices in London, Tokyo, and even Moscow. However, KBGS seldom participated in auctions, nor was its familiarity with the demand for treasury securities as strong as had been hoped. By 1977, Kleinwort Benson had become involved in unit and investment trusts, factoring, leasing, insurance brokering, venture capital, tax planning, executor and trustee services, property development, commodity dealing, and bullion brokering and dealing, among other services. In his first year in charge, earnings rose 18 percent and assets 8 percent, to DM 189 billion. Rumors began to fly that the once mighty and prestigious merchant bank would be forced to dissolve. 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. Until mid-2003, he also served as Head of Global Private Equity of Dresdner Kleinwort Capital and was a Group Board Member of Dresdner Kleinwort based in NYC, London and Frankfurt having joined Kleinwort Benson in 1978. In her earlier career, Judy worked as M&A project manager at PepsiCo, New York. New name for Dresdner Kleinwort Capital - buyoutsinsider.com Dresdner also pioneered the way for foreign stock shares to be traded on West German exchanges at about this time.

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