WGZ Bank

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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]

References

^ "WGZ BANK AG Westdeutsche Genossenschafts-Zentralbank: Private Company Information". BusinessWeek. 2011. Archived from the original on October 11, 2012. 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". Wealth Briefing. 2011. Retrieved 14 July 2011.
^ "DZ BANK's AGM: shareholders vote in favour of merger with WGZ BANK" (Press release). DZ Bank. 22 June 2016. Retrieved 1 August 2016.