HSBC Trinkaus
 |
|
 HSBC Trinkaus head office in Düsseldorf |
|
| 80.6% subsidiary of HSBC Holdings plc | |
| Industry | Finance and Insurance |
| Founded | 1785 |
| Headquarters | Düsseldorf, Germany |
|
Key people
|
Carola Schmettow (Chief Executive Officer) |
| Products | Financial Services |
|
Number of employees
|
2,500 |
| Parent | HSBC |
| Website | www |
HSBC Trinkaus & Burkhardt AG, operating as HSBC in Deutschland, is a German financial services company. It traces its history back to 1785 and is one of the longest-established members of the HSBC Group. HSBC in Germany has operations in private, commercial and investment banking and asset management. The German entity reports to HSBC Bank plc.
The bank was managed by five general partners under an unusual German partnership arrangement. On 29 November 2005 the partners voted to convert the bank to AG or limited company status, and in August 2006, HSBC Trinkaus & Burkhardt completed its transition from a German limited partnership (KGaA) to a corporation limited by shares (AG). In 2007 it changed its name to HSBC Trinkaus.
HSBC owns 80.6% of the HSBC Trinkaus shares; Landesbank Baden-Wuerttemberg (LBBW) owns 18.7%. HSBC Trinkaus & Burkhardt AG is a German Stock Corporation, managed by a four-member Management Board.
In 2013, HSBC generated a pre-tax profit of €219.1m in Germany. With a Fitch-Rating of AA- (Stable) as part of the HSBC Group, HSBC is the best rated private bank in Germany.
Contents
Operations
In addition to its head office in Düsseldorf, the bank has branches in Baden-Baden, Berlin, Dortmund, Frankfurt, Hamburg, Cologne, Mannheim, Munich, Stuttgart and Vienna, (Austria).
History
In 1785 Christian Gottfried Jäger established his trading house in Düsseldorf. Then in 1852 Christian Gottfried Trinkaus, one of the founder's nephews, took over the firm, named it after himself, and focused exclusively on banking from then on. From 1919 on, the company came under the ownership of institutional investors, especially Deutsche Bank, as the last family members exited the bank.
The next landmark occurred in 1972 when C.G. Trinkaus merged with Bankhaus Burkhardt & Co, which had been founded in Essen in 1841. Under the name of Trinkaus & Burkhardt the bank extended its operations to Luxembourg and Switzerland. Two years later, Citibank, of the US, acquired majority ownership.
In 1980, the UK-based Midland Bank acquired a majority stake in Trinkaus & Burkhardt. Five years later, Trinkaus & Burkhardt converted to a partnership limited by shares (Kommanditgesellschaft auf Aktien - KGaA) and listed on the stock exchange.
HSBC acquired Midland Bank in 1992, and with it HSBC's majority stake in Trinkaus & Burkhardt. In time, HSBC transferred Trinkaus and Burkhardt's operations in Switzerland to its subsidiary there, HSBC Guyerzeller Bank. In 1999, the bank in Germany changed its name to HSBC Trinkaus & Burkhardt KGaA. Lastly, in 2006, the bank changed its legal form and became HSBC Trinkaus & Burkhardt AG.
See also
External links
| Board of directors |
|
|---|---|
| Brands |
|
| Principal local banks | |
| Minority stakes and joint ventures |
|
| Predecessor companies | |
| Former susbsidiaries | |
Lua error in package.lua at line 80: module 'strict' not found.
