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The Banque Worms was a merchant bank founded by Hypolite Worms in 1928 as a division of Worms & Cie. The banking services division provided financing services to other branches of Worms & Cie, which were involved in ship building, shipping and the coal trade. During World War II (1939–45), Worms & Cie was placed under German supervision, and was subject to intense scrutiny after the war on suspicions of collaboration. The banking services division was spun off as the independent Banque Worms et Cie in 1964. The bank was nationalized in 1982 by the socialist government of François Mitterrand. The bank engaged in risky real estate investments, and lost most of its value. After being re-privatized, it was owned in turn by two insurance groups, then was acquired by Deutsche Bank. The bank was wound down in 2004.
References
- ↑ "Bloomberg Business Week article". Investing.businessweek.com. 2001-07-03. Archived from the original on October 12, 2012. Retrieved 2012-12-18.
- ↑ Finance. "Telegraph newspaper article on GE acquisition of Artesia". Telegraph.co.uk. Retrieved 2012-12-18.
- ↑ Fd. "Handelsbank GE Artesia stopt ermee". fd.nl. Retrieved 2015-03-04.
