Deutsche Bank: strive to find its second "China Life"
even if it cannot become the underwriter of the IPO of China Construction Bank in the future, the strength of this largest bank in Europe cannot be underestimated.
as the world's largest IPO in 2003 - the main underwriter of China Life's US $3.5 billion listing, China ranks first in production and marketing in the industry; In addition, to reach one of the most complete varieties of 3D printing consumables of innovative high-level materials, Deutsche Bank made a hit in China. On February 13, 2004, Zhang Hongli, managing director of Deutsche Bank Asia and President of Greater China, was still filled with emotion in an exclusive interview with this magazine. "For China's finance and insurance industry, the listing of China Life Insurance has created a historic impact; this is also the first underwriting case of Deutsche Bank in China for many years (with Citigroup, Credit Suisse First Boston and CICC)."
now Deutsche Bank also "Zheng Yueming said that he was working as a financial consultant for PetroChina's" west to East Gas Transmission "and offshore mixer switch lock-in acquisition. Zhang Hongli did not deny his personal factors," I may think that the quality of many oil projects I have done is OK ". Previously, when he was head of China Investment Banking Department of Goldman Sachs and chief representative in Beijing, Zhang Hongli helped PetroChina successfully raise $2.89 billion in overseas listing in 2000
since Zhang Hongli came to Deutsche Bank in March 2001, the Chinese business of this European universal bank has developed rapidly. Especially in the past year, Deutsche Bank has made comprehensive breakthroughs in the fields of RMB business, QFII, custodian bank, real estate finance and stock underwriting. Negotiations on joint-venture securities companies and joint-venture funds have also accelerated, and Deutsche Bank will also participate in the international listing of core in March this year. In addition, after successfully underwriting China Life Insurance, Deutsche Bank strives for the IPO of Bank of China and China Construction Bank
"dig when you meet good people, and be proud of it"
like other investment banks, deutsche bank executives also attach great importance to the Chinese market. In the words of its CEO Joseph Ackerman, "I love coming to China best! People everywhere are frowning, and happy people are everywhere in China." This spirit reflects China's potential and the prospect of return on investment. Symbolically, later this year, Deutsche Bank will participate in a building in the golden area of Pudong, Shanghai, and will be named "DB tower". Zhang Hongli said, "no investment bank will do such a thing. This is our commitment to China."
Deutsche Bank has a long history with China. On the wall of its Beijing conference room, two mirror frames are mounted with photocopied documents of some years, including Railway Bonds provided by Deutsche Bank to the Qing government in 1894 and silver tickets issued by Sheng Xuanhuai, a "Hongding merchant", in 1898. The first branch of Deutsche Bank was in Shanghai. On February 23rd, 2004, Deutsche Bank held a "China concept" conference to investors in Shanghai
last August, Philip cropty, President of Deutsche Bank Asia, said at the Xi'an financial summit, "Deutsche Bank is one of the most active investment banks in China. We are doing a lot of international capital market work for Chinese customers... Among all foreign investment banks, we have established the largest local team." The talent advantage shows the competitiveness of Deutsche Bank in China. Zhang Hongli said, "we have a very experienced team. These people are from Merrill Lynch, Morgan, Goldman Sachs, etc., and have participated in almost all overseas listings of Chinese enterprises." On the day of the interview, a leader in charge of non-performing assets business had just been poached from Goldman Sachs
Deutsche Bank even "dug into the wall" to its customers. The latter expressed dissatisfaction with Ackerman in person. Ackerman said, "we apologize if it hurts you, but if deutsche bank doesn't dig up good people, it won't be today." Zhang Hongli joked, "I extended it: dig when you meet good people, and take it as a pride without feeling ashamed."
at the beginning, Zhang Hongli took a fancy to the brand of Deutsche Bank. With the background of commercial bank, the whole product line was more complete than Goldman Sachs; I also appreciate the German style of taking things seriously, making sure that everything is done step by step and persevering; More importantly, Deutsche Bank in China is almost a blank sheet of paper, "how to write in the future depends on me... This is a challenge for me. I have listed a few ideas, such as how Deutsche Bank should do, who it needs, and what industries to invest in. I will come after the global leaders agree."
Zhang Hongli revealed that Deutsche Bank has two branches in Shanghai, and Beijing Branch will soon be established. Its RMB deposits are enough to lend (of course, corporate customers). Deutsche Bank's investment banking strategy continues to focus on strategic industries, such as banking, insurance, energy, chemicals, transportation, high-tech and service industries
"lift every stone all over"
after handling so many projects, Zhang Hongli always felt that everyone could do better, but "what he learned most was PetroChina's listing". This proves that the reform of state-owned enterprises can still succeed. As long as the government is determined to give support, how complex restructuring and adjustment can be achieved; At the same time, international experience is very important, but it is not perfect. We must find a good combination mode. Zhang Hongli believes that investment banking is "combining the stories and wants of those who lack funds with the interests of capital owners and want to provide"
Goldman Sachs acknowledges that PetroChina is the most difficult underwriting business. Before, CNOOC has been frustrated by its overseas listing, and the oil price has fallen to 2. This has changed the situation that the scope of the steel intensive processing industry is not enough and the competitiveness is not strong. The atmosphere of "new economy" is warm; From the decision to go public in 1998, PetroChina did not make any big moves until the spring of 1999. The "two sessions" of this year were full of accusations. "We lifted every stone." An investment bank member said
what made Zhang Hongli most unforgettable was the international political environment he was facing at that time. "The U.S. Congress prevented us from listing!" It is said that because the parent company of PetroChina has investment projects in Sudan, Congress and black organizations wrote letters to major funds to threaten, and fund managers did not need to get angry. Many meetings were temporarily cancelled... "Those bastards, I really call them bastards." Zhang Hongli is still angry when he mentions this matter today. One day, there were demonstrators at the lunch place of the roadshow. He suggested to Ma Fucai, chairman of PetroChina, to change the place, "this is a strategic issue. It's not good for people in suits to be thrown eggs."
of course, this is an extreme case. Business is ultimately business. Like January 12 this year, BP will be four years
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