With the Soviet occupation of East Germany, all of Dresdner's offices east of the Oder-Neisse line were closed permanently. [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. Mr. Wright has been a director of Merifin Capital NV, a private European family owned investment firm since 1987. Dresdner also planned to add 150 of its own branches in the former East Germany in 1991. He received his Master of Architecture degree from University of Minnesota, and his bachelor of Architecture degree from Tsinghua University. Dresdner renamed its investment banking operations Dresdner Kleinwort Wasserstein. Mr. Wright has been a director of Merifin Capital NV, a private European family owned investment firm since 1987. 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. learn how over 7,000 companies got started! The reunification of East and West Germany offered Dresdner a host of new opportunities as well. About us Since its foundation in 1993, South Andes Capital provides mergers and acquisitions and corporate finance services to local and foreign clients. 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. Source: International Directory of Company Histories, Vol.60. Between 1924 and 1929, Dresdner Bank was involved in a lending policy that brought economic chaos to Germany again in 1931. 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. He served until 2005 on the board of Genaissance Pharmaceuticals (NASDAQ). Nonetheless, the firm suffered no permanent damage from the war, and even had slightly more capital in 1918 than it did in 1913. Get the full list, Morningstar Institutional Equity Research. 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. 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. Dresdner Kleinwort Capital's growth plans include the [] The strategy proved to be both costly and damaging to its reputation in the industry. Soon after the Allianz merger, though, Dresdner stumbled badly. Until mid-2003 he served as Head of Global Private Equity for Dresdner Kleinwort Capital and was a Group Board Member of Dresdner Kleinwort. As consumers, we often take for granted all the hard work that goes into building a great company. [1] In 1786, Heinrich set up a partnership with Otto Mueller in Holstein to finance trade with England. Prior to Dresdner, served in various capacities at Fortis Capital, Citibank and PNC. Our team is comprised of experienced professionals with backgrounds in investment banking, consulting, operations, technology, and research. [30] Jens-Peter Neumann, former head of Capital Markets sued in Germany in April 2009 for 1.5million in severance pay. In 1990, Dresdner inked a deal with Deutsche Kreditbank that gave the West German firm control over 72 Kreditbank retail branches and a 49 percent stake in the outfit, which was named Dresdner Bank Kreditbank AG. 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. They needed foreign capital coming in to pay the interest. Neil Winward's Phone Number and Email Last Update. This eye for expansion would continue to make Dresdner grow until its foreign interests were lost after World War I. Dresdner's huge credit reserve, like that of the other large German banks, also helped Germany transform itself from a capital importing to a capital exporting economy during the 1880s. [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. During those five years, Germany began to rebound economically. Barry received his MBA from University of North Carolina and BA, Economics from Vassar College. Steve brings his expertise in industrial and residential real estate, as well as sports and entertainment segment for potential expansion into industrial-sector strategies and real estate investment This hurt Dresdner even more than had the lack of expansion during the war years. 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. Ostensibly socialists, the Nazis were inclined to completely nationalize all the German banks under the absolute power of the Third Reich. The two German banks were in the final stages of negotiating a merger in 2000, when the deal fell apart. 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. 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. Dresdner Kleinwort offers investment banking services. 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. Also, Dresdner and the other big banks carried too much foreign credit. [25], In December 2008 Commerzbank, which was in the process of acquiring Dresdner Bank,[26] decided to close Dresdner Kleinwort's Mergers & Acquisitions Unit. A month later Kleinworts agreed another loan of 1,500,000 pounds sterling at 3%. Anne has worked in private equity since 2004 most recently as CFO at Cap10 Partners. 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. In the first decade of this century, Dresdner formed a community of interest with Schaffhausenschor Bankverein in 1903, opened stock companies to start trade with Asia and South America, formed 27 branches through absorption of smaller banks, and formed an alliance with the American bank J.P. Morgan and Company to engage in international finance. In response, Kleinwort joined the industry-wide trend toward raising money for domestic industry in the 1920s. Descriptive keyword for an Organization (e.g. At the high point of economic chaos, in 1923, Dresdner held assets of 204 trillion marks. 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. Mr. Wright was educated at Oxford University and holds a Certified Diploma in Accounting and Finance from ACCA. [39] The bank moved to new premises at St George Street in London in 2012. In 1968 Dresdner established German-American Securities--now called ABD Securities Corporation--in New York. However, KBGS seldom participated in auctions, nor was its familiarity with the demand for treasury securities as strong as had been hoped. Because of its traditional reliance on trade with Germany, Kleinwort was hit harder than most of its competitors by the crisis. [2] Kleinworts established a successful trading business in Cuba, profiting from the expansion of the H. Upmann and Sons cigar business. Washington, DC 20549- 1000 Attn: Ms. Nancy M. Morris, Secretary Telephone +1 212 969 2700 w.dresdnerkleinwort.com ViaElectronic Mail The Rt. In September 2012, it announced that it had reached agreement with Deutsche Bank for Kleinwort Benson to acquire BHF Bank for 384 million. Finally, we can read about how these great companies came about with Company Histories.. Its securities business lost more than 45 million, reducing the bank's overall pre-tax profits to 17.7 million that year as compared to 51.6 million in 1987. 2022 Langham Capital. 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. Contact Details: Riverbank House 2 Swan Lane London, EC4R 3UX UK. He served as Chairman of various investment funds prior to and following the latter's integration with Allianz SE. Dresdner became involved in yet another deal later that year. Dresdner set out to bolster its international presence by concentrating on developing a global asset-management network. 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. 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. The Wasserstein name was dropped in July. Dresdner Kleinwort Benson In September 2004, Coller Capital's fund acquired a $90 million portfolio of companies from Dresdner Kleinwort Benson. Previously at Dresdner Kleinwort Wasserstein as head of the NY Leveraged Finance Group and founded the Real Estate and Public Finance Groups. 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. In Los Angeles, it purchased the services of a group of brokers specializing in interest-rate swaps and renamed it Kleinwort Benson Cross Financing. 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. It tried to recover its money through foreign courts but without success. He was primarily responsible for handling commercial and residential real estate development, and designing large international EPC projects with many prominent public works. 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. 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. We are an advisory firm specialised in in mergers and acquisitions and corporate finance with more than 25 years of experience. We see them around but we don't know what goes on behind the scenes. [13] It also managed the flotation of Cable & Wireless in the same year. 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.
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