Private bank
Private banks are banks that are not incorporated. A private bank is owned by either an individual or a general partner(s) with limited partner(s). In any such case, the creditors can look to both the "entirety of the bank's assets" as well as the entirety of the sole-proprietor's/general-partners' assets.
These banks have a long tradition in Switzerland, dating back to at least the revocation of the Edict of Nantes (1685). Private banks also have a long tradition in the UK where C. Hoare & Co. has been in business since 1672. There were many private banks in Europe. However most have now become incorporated companies, so the term is rarely true anymore.
"Private banks" can also refer to non-government owned banks in general, in contrast to government-owned (or nationalized) banks, which were prevalent in communist, socialist and some social democratic states in the 20th century. Private banks as a form of organization should also not be confused with "Private Banks" (also Private Banking) that offer financial services to high net worth individuals and others.
Contents |
[edit] List of private bank
This list contains private banks and incorporated banks specialized in private banking.
[edit] Switzerland
Private banks (Family owned banks)[1]
- Baumann & Cie, founded in 1920
- Bordier & Cie, founded in 1844
- E. Gutzwiller & Cie., founded in 1886
- Gonet & Cie, founded in 1845
- Landolt & Cie, founded in 1780
- La Roche & Co., founded in 1787
- Lombard Odier Darier Hentsch & Cie, founded in 1796
- Mirabaud & Cie, founded in 1819
- Mourgue d'Algue & Cie, founded in 1869
- Pictet & Cie Official Site, founded in 1805
- Rahn & Bodmer Co., founded in 1750
- Reichmuth & Co., founded in 1995
- Wegelin & Co., founded in 1741
Incorporated banks
- Bank Julius Bär, Zurich, founded in 1890
- Banque privée Edmond de Rothschild, Geneva, founded in 1923; a member of Edmond de Rothschild Group
- Clariden Leu, Zurich, founded in 1755; a member of Credit Suisse
- Union Bancaire Privée, Geneva, foudned in 1969
[edit] France
- Compagnie Financière Edmond de Rothschild, Paris, founded in 1953; a member of Edmond de Rothschild Group
[edit] Germany
- Delbruck Bethmann Maffei, Frankfurt am Main, founded in 1748; a member of ABN AMRO
- Sal. Oppenheim, Cologne, founded in 1789; a member of Deutsche Bank
[edit] Liechtenstein
- LGT Bank, Vaduz, founded in 1920; owned by Princely House of Liechtenstein
[edit] Netherlands
- MeesPierson, Rotterdam, founded in 1720: a member of ABN AMRO
[edit] United Kingdom
- Cater Allen, London, founded in 1816: a member of Santander
- Coutts & Co., London, founded in 1692; a member of Royal Bank of Scotland
- C. Hoare & Co., London, founded in 1672
- Duncan Lawrie, London, founded in 1860; a member of Camellia Plc Group
- Kleinwort Benson, London, founded in 1786; a member of RHJ International
[edit] References
- ^ "Swiss Private Bankers Association". swissprivatebankers.com. http://www.swissprivatebankers.com/en. Retrieved 12 August 2011.
