Bank Stern is a financial advisory firm that engages in investment banking, family office, and other financial services primarily with institutional clients. Its principal executive offices are in Paris.
Antoine Jacob Stern and his brother Léopold Stern (1810-1846) create in June 1842 the investment bank A. J. Stern & Cie, at 33 rue Laffitte, Paris to form one of the ten main investment banks in Europe with their cousins who formed in 1844 the Stern Brothers in London.
In the 20th century the Stern family was a shareholder of the Banque de France and was one of the main banking families in Paris with Lazard and Rothschild & Co in France. In 1977-1978, the bank Rothschild took over 48% of the shares of Bank Stern.
During the 1980s, Edouard Stern took control of the family bank and revamped the bank, expanding its activity in financial markets, as well as in mergers and acquisitions.[1] In 1985, Stern sold the bank for 300 million francs[2] ($60 million in 2005 dollars) to Lebanese investors and become Bank Pallas-Stern. Thanks to a clause attached to the contract, Stern got to keep the copyright over his last name Stern. Immediately after the sale went through, Stern started a new bank,[3] with a similar name and business profile, drawing in many of his former clients. He sold this second institution for an estimated 1.75 billion francs [4] in 1988 to the Swiss Bank Corporation (SBS, which will later merge with UBS to form UBS S.A.). As a result of these transactions, Stern shot up the ranks of the richest families in France, occupying the 38th spot, according to Forbes.[citation needed]
References
^"Edouard Stern,Ex-Lazard Banker, Dies in Geneva at 50 (Correct) - Bloomberg". www.bloomberg.com. Retrieved 2015-12-18.
^Carreyrou, John; Paris, Jo Wrighton in; JOURNAL, Alessandra Galloni in Geneva Staff Reporters of THE WALL STREET. "How Banker's Life, Full of Intrigue,Ended in Murder". Wall Street Journal. ISSN 0099-9660. Retrieved 2015-12-18.
^Carreyrou, John; Paris, Jo Wrighton in; JOURNAL, Alessandra Galloni in Geneva Staff Reporters of THE WALL STREET. "How Banker's Life, Full of Intrigue, Ended in Murder". Wall Street Journal. ISSN 0099-9660. Retrieved 2015-12-18.
^"L'affaire Stern : épilogue d'un itinéraire tourmenté". Les Echos. June 8, 2006. Retrieved December 18, 2015.
bank, stern, financial, advisory, firm, that, engages, investment, banking, family, office, other, financial, services, primarily, with, institutional, clients, principal, executive, offices, paris, banque, sterntypepublicindustryfinancial, servicesfounded1835. Bank Stern is a financial advisory firm that engages in investment banking family office and other financial services primarily with institutional clients Its principal executive offices are in Paris Banque SternTypePublicIndustryFinancial servicesFounded1835 188 years ago 1835 Paris FranceFounderAntoine Jacob Stern CEO HeadquartersParis incorporation Paris France operational Key peopleEdouard Stern CEO ProductsFinancial servicesInvestment bankingInvestment managementOwnerStern familyHistory EditAntoine Jacob Stern and his brother Leopold Stern 1810 1846 create in June 1842 the investment bank A J Stern amp Cie at 33 rue Laffitte Paris to form one of the ten main investment banks in Europe with their cousins who formed in 1844 the Stern Brothers in London In the 20th century the Stern family was a shareholder of the Banque de France and was one of the main banking families in Paris with Lazard and Rothschild amp Co in France In 1977 1978 the bank Rothschild took over 48 of the shares of Bank Stern During the 1980s Edouard Stern took control of the family bank and revamped the bank expanding its activity in financial markets as well as in mergers and acquisitions 1 In 1985 Stern sold the bank for 300 million francs 2 60 million in 2005 dollars to Lebanese investors and become Bank Pallas Stern Thanks to a clause attached to the contract Stern got to keep the copyright over his last name Stern Immediately after the sale went through Stern started a new bank 3 with a similar name and business profile drawing in many of his former clients He sold this second institution for an estimated 1 75 billion francs 4 in 1988 to the Swiss Bank Corporation SBS which will later merge with UBS to form UBS S A As a result of these transactions Stern shot up the ranks of the richest families in France occupying the 38th spot according to Forbes citation needed References Edit Edouard Stern Ex Lazard Banker Dies in Geneva at 50 Correct Bloomberg www bloomberg com Retrieved 2015 12 18 Carreyrou John Paris Jo Wrighton in JOURNAL Alessandra Galloni in Geneva Staff Reporters of THE WALL STREET How Banker s Life Full of Intrigue Ended in Murder Wall Street Journal ISSN 0099 9660 Retrieved 2015 12 18 Carreyrou John Paris Jo Wrighton in JOURNAL Alessandra Galloni in Geneva Staff Reporters of THE WALL STREET How Banker s Life Full of Intrigue Ended in Murder Wall Street Journal ISSN 0099 9660 Retrieved 2015 12 18 L affaire Stern epilogue d un itineraire tourmente Les Echos June 8 2006 Retrieved December 18 2015 External links EditOfficial Website Banks portal Retrieved from https en wikipedia org w index php title Bank Stern amp oldid 1141728441, wikipedia, wiki, book, books, library,
