The First 100 Years
Founded in Altona in what was then Holstein, the bank’s main business was trading currencies and bills of exchange. In the 19th century, the bank quickly grew in importance. The Warburgs financed the foreign and overseas business for Hamburg wholesalers. The bank also made substantial sums available for the German Empire’s colonial enterprises.
1798 Brothers Moses Marcus and Gerson Warburg found M.M.Warburg & CO.
1867 The bank moves into Ferdinandstrasse 75, its head office to this day.
1889 M.M.Warburg & CO has grown into a private bank with good international connections. It conducts foreign-exchange and bill-of-exchange transactions with major trading houses and banks; its issuing business grows steadily. The bank employees 23 people, and its balance sheet is 35 million reichsmarks.
1893 The bank gains two new partners from the fourth generation of the family: Max M. Warburg and his younger brother Paul. The life and work of Max M. Warburg will have a long-term impact on the history of the bank.
1898 The bank celebrates its 100th year. It has 53 employees. Its share capital has risen to 5.7 million marks. The company has grown from a bank focused on the bill-of-exchange business to a renowned private bank.