Hesse Newman
Hesse Newman & Co. was a German private bank founded in 1777 and headquartered in Hamburg . It existed under this name until 2009. Since then, the banking business has operated as Grenke Bank .
Isaac Hesse (1737–1807), born in Osterode in the Harz Mountains, from a Jewish family, founded his banking business in Altona in 1777 as a cotton broker and money changer. Hesse's sons Heinrich Levin and Hartwig worked in their father's banking business. In 1825 Heinrich Levin changed the company name to HL Hesse. In 1845, George Hesse, the founder's grandson, took over the banking, trading and shipping business. Henry Newman, son of an English consul, whose family was one of the founders of the Newfoundland colony , becomes partner and son-in-law of Heinrich Levin Hesse. From now on, the bank operates under the name of Hesse Newman & Co. George Heinrich Hesse left a special memory of his person: in 1870 he was one of the founders of what is now Commerzbank .
With the departure of Alfred Percy Hesse in 1935, the bank loses the last bearer of the name Hesse. Joachim von Schinckel became a partner in the company in 1930. A new chapter in the history of the bank began under his leadership. With the death of Edmund Robert Newman in 1959, the bank lost the last bearer of the Newman name.
At the beginning of 1964, Hesse Newman & Co. (AG & Co.) came under the influence of Alfred C. Toepfer's company , Hamburg. The goods business was completely abandoned, but the banking business was gradually intensified in all branches. New business was won at home and abroad. Hesse Newman had taken his place again among the private banking houses of the Federal Republic.
As part of the creation of a European internal market, Banca Nazionale del Lavoro in Rome took over 100 percent of the shares in the bank at the beginning of 1988. In 2000 the bank was converted into a public limited company.
In 2004, the Hamburg-based bank Wölbern & Co. acquired the bank together with the Hamburg-based FHR Finanzhaus AG (formerly Finanzhaus Rothmann AG). While Wölbern was able to acquire 50 percent plus one share, FHR Finanzhaus AG took over 50 percent minus one share. At the end of 2007, FHR Finanzhaus AG exercised an option to take over the shares in Wölbern-Bank. FHR Finanzhaus AG is now called Hesse Newman Capital AG and continues the traditional company name.
In February 2009 the private bank was spun off and sold to Grenkeleasing AG in Baden-Baden, which wants to expand its financial services for medium-sized companies. In May 2009, the private bank was renamed GRENKE BANK AG because the naming rights for the Hesse Newman brand were not sold.
Individual evidence
- ↑ https://www.grenkebank.de/de/ueber-uns.html
- ↑ GRENKELEASING AG: GRENKELEASING AG takes over Hesse Newman & Co. AG (private bank since 1777) - GRENKELEASING AG / company takeover - February 12, 2009