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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. As of 2003, it employed about 8,000 people in more than 30 offices worldwide.
In 2004 the Russian government hired Dresdner Kleinwort to value Yukos's Yuganskneftegaz. It assesed 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.
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:
- Foreign exchange
- Rates
- Credit
- Equities
- Listed Products
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.
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"Dresdner Kleinwort"