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Historic private bank From Wikipedia, the free encyclopedia
Bankhaus Adolph Meyer was a private bank, and the oldest in Hanover, Germany. It played a prominent role in the industrialization of Lower Saxony, particularly in the cotton and coal and steel industries, especially since the time of the Kingdom of Hanover.[1][2] During the Nazi era, it was "Aryanized".[3][4] It is now located on Schillerstraße at the corner of Rosenstraße in Hannover's Mitte district.
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The origins of the bank date back to the Middle Ages and passed into the hands of the David family in the 17th century. In 1792, Simon Meyer, at that time authorized signatory of the then Bankhaus Meyer Michael David, took over the company, eventually leaving it to his son Adolph Meyer. The bank, then located in an old patrician house in Langestraße (Calenberger Neustadt), was soon renamed Bankhaus Adolph Meyer by Adolph Meyer with his own name.
As the business grew, Adolph Meyer had a new bank building constructed according to his own architectural plans from 1845 to 1850 outside Hanover's former city fortifications on an open field in Ernst-August-Stad.[5]
In the 1850s and 1960s, the bank played a significant role in the founding of numerous companies under Adolph Meyer, especially after the Kingdom of Hanover joined the German Customs Union.
After Meyer's death, the bank was directed by his sons Emil Meyer and in particular by the Prussian Kommerzienrat Sigmund Meyer, one of the first promoters of the potash salt industry in the province of Hanover. During his lifetime, his son Heinrich Meyer joined the company as co-owner, as did the authorized signatory Ludwig Silberberg.
After Nazis came to power in Germany in 1933, Jewish-owned banks were "Aryanized", that is, transferred to non-Jewish owners. Hannover's oldest private bank suffered a similar fate to the three other Jewish-owned private banks:
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