BHF Bank

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BHF-BANK AG.
Type Corporation (Aktiengesellschaft)
Industry Banking
Financial services
Founded 1854
Headquarters Frankfurt am Main
Key people Björn H. Robens, CEO
Total assets €18.7 Billion (2009)
Employees ca. 2000 (2009)
Website www.bhf-bank.com
Headquarters of BHF-Bank in Frankfurt am Main

BHF-Bank is a German private bank with a high reputation in Germany. It was amongst the leading German investment banks in the 1970s and 1980s, and also held a top position in the foreign exchange market. It is currently owned by Deutsche Bank and will be sold the LGT Group of Lichtenstein.[1] The bank also has an international presence, with branches in Luxemburg, Switzerland, the UAE, Egypt and Vietnam.

[edit] History

BHF-Bank was formed on the 1st January 1970 as the Berliner Handels- and Frankfurter Bank from the merger of the Frankfurter Bank (founded in 1854) and the Berliner Handels-Gesellschaft (founded in 1856). It changed its name to BHF-Bank in 1975. Through the 1970s and 1980s it was amongst the three or five leading investment bank in West Germany and also took a top position in the foreign exchange market. The bank also had extensive industrial holdings. Its former senior partner, Hanns Schroeder-Hohenwarth, became the President of the German Banks Association from 1983-1987.

In 1995 the bank went public, changing from a partnership to a corporation.

From 1999 to 2004 it was bought by the dutch ING Group and renamed from 2002 ING BHF-Bank. In the same year it was delisted following the Squeeze out of remain share holders.

In 2004 ING BHF-Bank was split in two, with the larger part comprising the branches and investments being integrated into a newly found BHF-Bank Aktiengesellschaft which was wholly owned by the private bank Sal. Oppenheim.

Sal. Oppenheim was itself taken over by Deutsche Bank in 2010. On the 23 December 2010, Deutsche Bank revealed in a press conference that it had agreed in the key point of the sale of BHF-Bank to the Lichtenstein royal family owned LGT Group.[2]

Since 2002, the BHF-Bank Foundation has awarded every two years the €20,000 Brücke Berlin-Preis for central and east European literature and its outstanding translation into German. Additionally, from 2006, the foundation also sponsors the German Conductor Prize (Deutscher Dirigentenpreis) in cooperation with the German Music Council (Deutschen Musikrat) and German Symphony Orchestra Berlin.

[edit] Notes

  1. ^ [http://www.economist.com/node/17909817 "A piece of history: A venerable German bank is on the block. Again"]. Economist Magazine. 13 January 2011. http://www.economist.com/node/17909817. Retrieved 19 January 2011. 
  2. ^ http://www.deutsche-bank.de/medien/de/content/presse_informationen_2010_3278.htm

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