WGZ Bank

The WGZ Bank (officially WGZ BANK AG Westdeutsche Genossenschafts-Zentralbank) was the umbrella organization of some 230 cooperative financial institutions in the Rhineland and in Westphalia.

Based in Düsseldorf, the company offers long-term real estate loans, services for the international currency financing business with member banks, and investment analysis and asset management services for private clients, as well as custodian for a number of funds in Luxembourg.[1] As a wholesale bank, it acts as a trading partner in currency, foreign exchange, and capital markets, as well as in bond issuing and syndications.[2]

From 2011 WGZ Bank and DZ Bank merged their private banking businesses based in Luxembourg to further strengthen their operations in Germany.[3]

In 2016, WGZ Bank was merged into DZ Bank, the central institute of co-operative banks in all other parts of Germany.[4]

References

  1. ↑ "WGZ BANK AG Westdeutsche Genossenschafts-Zentralbank: Private Company Information". BusinessWeek. 2011. Retrieved 17 March 2011.
  2. ↑ "WGZ BANK AG – Company profile". Wealth Briefing. Hoover's. 2011. Retrieved 17 March 2011.
  3. ↑ "German Banks To Merge Private Banking Businesses, Plan Regional Expansion". Wealth Briefing. 2011. Retrieved 14 July 2011.
  4. ↑ "DZ BANK's AGM: shareholders vote in favour of merger with WGZ BANK" (Press release). DZ Bank. 22 June 2016. Retrieved 1 August 2016.

Coordinates: 51°13′11″N 6°47′51″E / 51.2196°N 6.7976°E / 51.2196; 6.7976


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