He has chaired the investment committees of and/or serves on several advisory boards of third party managed LBO and venture capital funds in North America and Europe and has advised several other financial institutions, including Hansa Capital, CdB Webtech, Standard Bank, Artio Global Investors, Surya Capital, GP Investimentos, ILFS India and De Agostini Alternative Investments on their investments in private equity and other alternative assets around the world, including real assets. 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 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. 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. 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. Corporate finance continued to account for a large share of its revenues and, according to The Economist, it also had "the biggest banking book of any British merchant bank, with some 3 billion of loans outstanding.". 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. 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. [14] It next advised on the privatisation of Associated British Ports in 1983. Dresdner Kleinwort | LinkedIn The Economist summed up the company's problems in an August 2002 article, stating, "In the past year almost one-fifth of Dresdner's revenues have crumbled away. All rights reserved. The company operated as Dresdner Kleinwort Benson (DKB) after the 1995 acquisition. [20], In 1995, Kleinwort Benson was acquired by Dresdner Bank and, as Dresdner Kleinwort, became its investment banking arm. The loss of wealth coupled with the need to pay reparations produced the legendary hyperinflation of the Weimar Republic, further cutting into the German banking business. Prior to joining YiMei Capital, Judy served as Director of Strategic Investments at HewlettPackard Company. 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. Allianz, which already owned 22 percent of Dresdner before the acquisition, saw Dresdner as key to this transformation. During this time he executed a variety of transactions in equity capital markets, mergers and acquisitions, privatization, and debt restructuring. 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. [8], Kleinworts and Robert Benson, Lonsdale and Co. merged to form Kleinwort Benson Lonsdale in 1961. By the 1780s, they had gone into business in Liverpool as cotton merchants. The bank struggled to regain some of its prominence during the early postwar years but then faced another reformation from the Liquidation Commission. In addition, Kleinwort Benson's Australian banking and securities operations were sold to Security Pacific in October 1989. We also work selectively with early stage companies to raise venture funding. Henry has many years of management consulting and entrepreneurship experience, with deep knowledge in enterprise management, operation and governance. 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. Of the four endeavors, the community of interest with Schaffhausenschor increased Dresdner's power the most. [22] The Frankfurt branch of the bank was instrumental in initiating trading in emissions credits in 2003. Both Dresdner and Allianz have suffered since this merger because of problems with Dresdner's investment bank business, Dresdner Kleinwort Wasserstein. Dresdner Kleinwort Capital. Jens also has been Project Manager for the . By 1989, it boasted of offices and subsidiaries in ten countries and four continents--a small empire of its own. 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. Dresdner also expanded through technical innovation, using data processing systems to manage accounts in 1958, becoming the first West German firm to do so. 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). This hurt Dresdner even more than had the lack of expansion during the war years. Source: International Directory of Company Histories, Vol.60. Of Dresdner's total of 327 offices, only about half remained open, and most of those were badly damaged. Isaac runs the Information Technology practice at Langham Capital. Kerr's People: Simon Robertson, Former chairman, Dresdner Kleinwort Also in 1984, Kleinwort Benson Australia acquired a 50 percent interest in Australia Gilt Company Group, a dealer in Australian government securities. Soon thereafter, Dresdner began merger talks with Commerzbank AG, the second largest bank in Germany, though these negotiations were also scuttled. Subscribe to our newsletter Receive daily news updates directly in your inbox. It tried to recover its money through foreign courts but without success. After the merger's failure, Dresdner's chairman, Bernhard Walter, resigned and was replaced by Bernd Fahrholz. 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. 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. [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. [21] It added global reach through the acquisition of the US investment bank Wasserstein Perella in 2001 (from Bruce Wasserstein). 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. After leaving in 1997, he co-founded an international advisory firm focusing on the emerging markets and in 2007, he co-founded EMAlternatives, a fund-of-funds manager focusing on emerging markets, including investments in China. With the Soviet occupation of East Germany, all of Dresdner's offices east of the Oder-Neisse line were closed permanently. 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. 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. 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). 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. Dresdner was at first restructured into ten separate institutions. Under Rller, Dresdner began to prosper again. Steve holds an MBA from Rotman business school, University of Toronto. 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 has acted as Chairman of various investment funds prior to and following the latters integration with Allianz Private Equity. Eddie Listorti - Viridios Capital The company's fortunes took a tumble once again in the early 1990s due in part to its attempts to diversify its holdings. It managed the reprivatisation of British Aerospace, the first of the British Government's programme of disposals in 1981. At the time, it had 4.4 million in German, Austrian, and Hungarian bills outstanding. The Rt. 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. He is a director of Asset Metrix GmbH and insticube GmbH, both B2B software companies in Munich. 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. That year, Dresdner became the first German company to have its shares listed on the Tokyo stock exchange. As it turned out, however, the year of the Big Bang was not entirely kind to Kleinwort Benson. Mr. Morriss has been Treasurer and a member of the Board of The Margaret Thatcher Foundation since 1997. Langham Capital Christopher Wright is Chairman of EMAlternatives LLC in Washington DC, an emerging markets focused private equity asset management firm, and a director of Merifin Capital Group, a private European investment firm. B-22, Jungpura Extension, New Delhi - 110014, India, 28 Devonport, 23 Southwick Street, London, England, W2 2QF.

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