Dresdner Kleinwort

From Wikipedia, the free encyclopedia

Dresdner Kleinwort
Type Investment Bank
Founded 1786
Headquarters London, Frankfurt
Industry Finance
Products Financial Services
Parent Dresdner Bank
Website www.dresdnerkleinwort.com

Dresdner Kleinwort (DKIB) is the investment bank of Dresdner Bank AG, part of the Allianz Group since July 2001.

Headquartered in London and Frankfurt and with an international network including offices in the financial centres of New York and Tokyo, Dresdner Kleinwort provides a wide range of investment bank products and services to European and international clients through its Capital Markets and Corporate Finance & Origination business lines.

The firm has a global reach thanks to the takeover by Dresdner Bank of the UK investment bank Kleinwort Benson in 1995 and the US investment bank Wasserstein Perella in 2001 (from Bruce Wasserstein). It is renowned for its expertise in the debt capital markets.

DKIB particular strengths are in the two home markets of Germany and the UK. With 6,000 people based in over 35 countries worldwide, the firm has the international reach to serve its customers on a global basis.In the emerging markets the company has notably strong reputation in Russia and Brazil. Furthermore, as of November 2007, Dresdner Kleinwort doubled its Italian stockbroking operation after buying RasBank, the Milan-based broking and research business from its parent company Allianz.

Dresdner Kleinwort is also unrivalled expert in European renewables with transactions in M&A, equity and debt markets across wind, solar, bioenergy, and fuel cells. The company as of 2007 is ranked No. 1 in Energy—alternate sources IPOs for Western and Eastern Europe and joint bookrunner for the world’s first Climate Awareness Bond. Dresdner Kleinowrt is also a pioneer in EU emissions trading and leading player in JI market through our JV Carbon Trade & Finance.

The company's research activities are second to none, with top-ranked awards in global economics and strategy for five years running and with five sector teams ranked No. 1 in 2007.

Revolution is the gateway to Dresdner Kleinwort's online products and services. It includes a complete range of proprietary applications which cover a wide array of client requirements and asset classes, including:

In 2004, the Russian government hired Dresdner Kleinwort to value Yukos's Yuganskneftegaz. It assessed the value to between $15bn and $17bn. The Russian government eventually sold Yuganskneftegaz for $9.35 billion to an obscure firm. That firm, in turn, was acquired days later by Russian state oil major Rosneft. Dresdner Kleinwort is part of a syndicate that also comprises ABN AMRO, JPMorgan, Morgan Stanley and Barclays Capital that lent $7.5 billion to Rosneft and state-owned special-purpose vehicle Rosneftegaz. The money was earmarked to buy 10.74% of Gazprom shares from Gazprom itself. Banks in the syndicate, with the exception of Barclays Capital, have been mandated to conduct an initial public offering of a stake of Rosneft on an international stock exchange. Initial relationships with Rosneft in 2007 also lead Dresdner Kleinwort to be a Joint Global Co-ordinator for Russia’s largest equity-linked deal.

In January 2006, the bank became the target of a $1.4 billion class action suit by six employees alleging bias and systematic discrimination against female workers.

In the third quarter of 2007 Dresdner Kleinwort has emerged relatively unbruised from the subprime credit-market crisis. Allianz and banking unit Dresdner avoided heavy asset writedowns and trading losses, while there are signs Allianz is starting to get the bank to mesh better with its insurance activities.

Contents

[edit] Notable current and former employees

[edit] Politics and public service

[edit] See also

[edit] Competitors

[edit] External links

[edit] Articles

[edit] Data

 This European bank & insurance-related article is a stub. You can help Wikipedia by expanding it
Languages