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]
See also
References
- WGZ BANK AG Westdeutsche Genossenschafts-Zentralbank: Private Company Information BusinessWeek, 2011, retrieved 17 March 2011^
- WGZ BANK AG – Company profile Wealth Briefing, Hoover's, 2011, retrieved 17 March 2011^
- German Banks To Merge Private Banking Businesses, Plan Regional Expansion