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’DrK’s Jentzsch raids Goldman
Dresdner Kleinwort, the German investment bank, has hired two senior executives from Goldman Sachs and Merrill Lynch to improve its contact with companies and boost its corporate banking business. The appointments complete the reorganisation of the investment bank by Stefan Jentzsch,
DrK launches corporate broking unit
Dresdner Kleinwort is set to launch UK-style corporate broking services in Germany in a move that reflects the rising need for German chief executives to deal with their increasingly foreign investor bases.
3i drops Merrill for Lehman Brothers
Merrill Lynch has been dropped as corporate broker to private equity group 3i, the second time this month the US investment bank has lost such a role to a FTSE 100 company. 3i has followed Tesco in replacing Merrill Lynch with Lehman Brothers.
‘E’ is disappearing, says Dresdner’s Lapthorne
A fresh sell off, triggered by new sub-prime jitters in the US, moved through Asia overnight and hit Europe on Wednesday, leaving the FTSE 100 around 100 points lower mid-afternoon London time.
Perfect conditions,
Shop till your stocks drop
Albert Edwards, the Dresdner Kleinwort strategist who is in his element when the markets are stressed, is circulating a nasty little chart, mapping the relationship between the US equity market and retail sales.
The long-awaited equities correction is upon us, says Dresdner’s resident bear
Could it really have arrived? Are global stocks about to tank in an all consuming way? Indeed, is this the moment Albert Edwards has been waiting for since 1996?
Well, there was some trepidation amongst equities dealers in London ahead of Monday’s opening.
The Great Unwind is coming, warn Dresdner pair
It’s the sort of analysis that, as an investment banking analyst focusing on the investment banking sector, might seriously damage your career prospects.
No matter! Stefan-Michael Staimann and Susanne Knips at Dresdner Kleinwort have published a detailed tome on the importance of hedge funds to the investment banking industry.
Chickens, eggs and now bubbles
A chicken and egg discussion was kicked off recently by Dresdner Kleinwort strategist Albert Edwards over whether liquidity is shoring up asset prices, or whether rising asset prices have actually lead to faster credit growth.
City banks hit by US subpoenas
City financial institutions have been ordered to handover emails, telephone records and papers related to internet gaming companies as part of the US crackdown on online gaming. The Times reports that at least 16 banks including HSBC,
Gazprom in carbon trading venture with Dresdner
Russian energy group Gazprom will make its first significant foray into carbon trading on Tuesday with Dresdner Kleinwort. The joint venture between Gazprombank and DK will invest in projects generating “carbon credits”
The wrong time for smaller banks to get out their chequebooks
When bankers turn truly giddy, it is usually time for their shareholders to head for the exit, according to Lex.
Investment banks in general, especially those in the second tier, have a habit of waiting until late in the cycle before hiring aggressively.
M&A specialist returns to City with Dresdner Kleinwort
John McIntyre, the corporate financier, is set to return to the City after one year’s absence as head of UK M&A at Dresdner Kleinwort. McIntyre left his position as head of UK M&A at Lehman last year to take a break after 20 years in investment banking.