WGZ Bank explained

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

51.2196°N 6.7976°W

Notes and References

1. Web site: WGZ BANK AG Westdeutsche Genossenschafts-Zentralbank: Private Company Information . . https://web.archive.org/web/20121011064143/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=875247 . dead . October 11, 2012 . 2011 . 17 March 2011.
2. Web site: WGZ BANK AG – Company profile . . Wealth Briefing . 2011 . 17 March 2011.
3. Web site: German Banks To Merge Private Banking Businesses, Plan Regional Expansion . Wealth Briefing . 2011 . 14 July 2011.
4. DZ BANK's AGM: shareholders vote in favour of merger with WGZ BANK . DZ Bank . 22 June 2016 . 1 August 2016.