BHF Bank
| Corporation (Aktiengesellschaft) | |
| Industry | Banking Financial services |
| Founded | 1854 |
| Headquarters | Frankfurt am Main |
|
Key people
|
Philipp Oddo, CEO |
| Total assets | €6,7 Billion (2014) |
|
Number of employees
|
ca. 1,100 (2014) |
| Website | www.bhf-bank.com |
BHF-Bank is a private German bank currently owned by Deutsche Bank. It was one of the leading German investment banks in the 1970s and 1980s and held a top position in the foreign exchange market. The bank has an international presence, with branches in Luxembourg, Switzerland, the UAE, Egypt and Vietnam.
History
BHF-Bank was formed on 1 January 1970 as the Berliner Handels- und Frankfurter Bank from the merger of the Frankfurter Bank (founded in 1854) and the Berliner Handels-Gesellschaft (founded in 1856).[1] In 1970, when the BHF-Bank tower was built by the German architect Sep Ruf, it was the highest building in Frankfurt. The banks changed its name to BHF-Bank in 1975. Through the 1970s and 1980s it was in the top three to five investment banks in West Germany and had a top position in the foreign exchange market. The bank had extensive industrial holdings. Its former senior partner, Hanns Schroeder-Hohenwarth, became the President of the German Banks Association from 1983 to 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 remaining share holders.
In 2004 ING BHF-Bank was split. The majority of the bank’s business operations, offices and equity shareholdings were integrated into the newly founded BHF-BANK Aktiengesellschaft, which was then acquired by the private bank Sal. Oppenheim as its sole shareholder. When Sal. Oppenheim was taken over by Deutsche Bank in 2010, BHF-BANK, which has always operated on a stand-alone basis, was put up for sale.
Since 2014, the bank has formed part of BHF Kleinwort Benson Group, which was taken over by the French private bank Oddo & Cie. By mid-March 2016, Oddo & Cie had acquired 100% of BHF Kleinwort Benson Group’s shares, and has thus become BHF-BANK’s indirect sole shareholder.
Corporate Citizenship
BHF-BANK Foundation was set up in 1999 to improve Germany society.[2] It has supported the Senckenberg Museum in acquiring new exhibits and the Frankfurt Red Cross with emergency rescue equipment. Dietmar Schmid has taken on the honorary position of Treasurer of the local Red Cross organization in Frankfurt am Main.
