M. M. Warburg & Co.

M.M.Warburg & CO (AG & Co.) KGaA is a German independent private bank, based in Hamburg. A family-owned bank, it was founded in 1798 by Banca Levi Kahana of Warburg and brothers Moses Marcus Warburg and Gerson Warburg, two members of the Warburg family. The Warburg family still owns the bank, continuing a more than 200-year legacy of private ownership.

M.M.Warburg & CO (AG & Co.) KGaA
Limited partnership with share capital (KGaA)
Founded1798
HeadquartersFerdinandstraße 75
20095 Hamburg, Germany
Key people
  • Joachim Olearius (Spokesman, Partner)
  • Henneke Lütgerath (Partner)
  • Eckhard Fiene (Partner)
  • Peter Rentrop-Schmid (Partner)
ProductsPrivate Banking
Asset Management
Investment Banking
Number of employees
1,201
(Warburg Banking Group)
Websitewww.mmwarburg.com
M.M.Warburg & CO headquarters in Altstadt's Ferdinandstraße

Among many notable Warburg descendants was Siegmund Warburg, who founded S. G. Warburg & Co. in London, in 1946, after fleeing Germany to escape the Nazis. The bank rose to become one of the most powerful investment banks in the City during the 60s, 70s, and 80s and Warburg himself one of London's most preeminent and influential financiers of the era. The London subsidiary was sold to Swiss Bank Corporation in 1995 and is today a part of UBS. Some descendants immigrated to the United States, for business reasons and to escape the persecution, and established themselves there. They include banker Paul Warburg and his nephew Eric M. Warburg, founder of Warburg Pincus.

Today, M.M.Warburg & CO's core business is in private banking, asset management, and investment banking, serving private, corporate and institutional clients.

During recent years, the bank has grown through many acquisitions. It bought several German private banks such as Marcard, Stein & Co. in Hamburg, Carl F. Plump & CO AG in Bremen, Bankhaus Hallbaum AG in Hannover and Bankhaus Löbbecke in Berlin. Furthermore, there are the foreign subsidiaries M. M. Warburg Bank (Switzerland) AG and M. M. Warburg & CO Luxembourg S.A., as well as various mutual funds. Since 2009 the Schwäbische Bank AG in Stuttgart has been part of the Warburg Banking Group. In 2016 the former subsidiary banks Bankhaus Hallbaum, Bankhaus Löbbecke, Bankhaus Carl F. Plump & CO and Schwäbische Bank were amalgamated with M.M.Warburg & CO.

The bank's headquarters are located at Ferdinandstraße 75 in Hamburg, with additional offices in Frankfurt, Berlin, Munich and Cologne. The bank also maintains several offices in Zurich and Luxembourg.

Cum-Ex scandal

The bank has been implicated in the Cum-Ex scandal, accused of defrauding tax payers in excess of over 50 million Euro.[1]

Works about M.M.Warburg & CO
  • Klessmann, Eckart (2004). M. M. Warburg & CO 1798—1998: Die Geschichte des Bankhauses. Hamburg: Dölling und Galitz. ISBN 3-933374-27-8.
  • Wechsberg, Joseph (1966). The Merchant Bankers. Boston: Little, Brown.
  • Rosenbaum, Eduard (1979). M. M. Warburg & CO, Merchant Bankers of Hamburg; A Survey of the First 140 years, 1798 to 1938. London: Hurst. ISBN 0-905838-07-6.
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See also

References
  1. dpa: Warburg-Bank weist Vorwürfe zu Cum-Ex-Geschäften zurück. Süddeutsche Zeitung, 16. Januar 2018.


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