Stefan Kaminsky (bank manager)

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Stefan Walter Kaminsky (born May 31, 1926 in Königsberg ; † April 9, 2002 ) was a German bank manager who took over the management of the customer credit bank from his father .

Life

He was born to Walter and Hedwig (née Pirner) Kaminsky in 1926 in Königsberg. His father Walter Kaminsky founded the customer credit bank (KKB) in Königsberg in August 1926, which moved to Düsseldorf in 1935 . Stefan Kaminsky studied banking in Berlin from 1949 and then in Cologne, between 1950 and 1953 in Frankfurt and received his doctorate there in 1953 with the widely acclaimed and fundamental dissertation “The cost and income statement of credit institutions. A theoretical, systematic and procedural investigation ”.

On January 8, 1955, he married Anita Wahlhäuser, in 1957 he joined his father's KKB, where in 1962 he became a limited partner and personally liable partner alongside his father . When the later Citibank acquired 56% of the shares in 1973 (and even 97% in 1989), Kaminsky took over the position of Chairman of the Supervisory Board , which he held until 1980. Father Walter Kaminsky switched to the supervisory board as deputy chairman in 1972.

dissertation

The work, published as a book in 1955, dealt in detail with the fundamentals of cost accounting in banking, the provision of which Kaminsky described for the first time - in contrast to non-banks - as a dualistic process through division into an operating sphere ( operating area) and value sphere (value area). “Strictly speaking, establishing the concept of the sphere is about creating a model of thought. The model has its greatest importance in clarifying the basic theoretical concept ”. Accordingly, he divided the costs into operating and value costs and the proceeds into operating and value proceeds . Building on this, the work formed the basis of the bank calculation because it was the first time that he designed a closed system of full cost accounting based on the causation principle for the bank's internal accounting .

reception

Like his father, Stefan Kaminsky is considered a pioneer of the German consumer credit and installment business . In 1983, Stefan Kaminsky summed up the consumer credit recipe for success. "Consumers' incomes flow with a relatively high degree of certainty constantly, and above all - monthly". From this he concluded: “The source of all housekeeping and all financial decisions lies in this pulsating stream.” The monthly repayment alone would bring the consumer considerable interest advantages compared to the mortgage loan, which has to be repaid every six months .

Fonts

  • Memorandum on the reform of the installment law. 1964.
  • The sales financing. In: Hans Jahnberg (Ed.): Financing Handbook. 1970, p. 525 ff.
  • Banks for people. Optimistic reader about the consumer business of the banks. 1981, ISBN 3781903036 .
  • Consumer protection in the banking industry. 1991, ISBN 3781911632 .

Individual evidence

  1. ^ Who's who in Finance and Industry, August 1975, p. 384
  2. ↑ Journal for the entire credit system, Volume 27, 1974, p. 68
  3. ↑ Stefan Kaminsky, The cost and income statement of the credit institutions , 1955, p. 27 ff.
  4. ↑ Wirtschaftswoche, 1983, p. 104
personal data
SURNAME Kaminsky, Stefan
ALTERNATIVE NAMES Kaminsky, Stefan Walter (full name)
BRIEF DESCRIPTION German banker and board member of the customer credit bank
DATE OF BIRTH May 31, 1926
PLACE OF BIRTH Koenigsberg
DATE OF DEATH April 9, 2002