Bank in Winterthur

The Bank in Winterthur was founded in Winterthur 1862 bank. They merged in 1912 with the Toggenburg Bank Union Bank of Switzerland and is one of the predecessor banks UBS.

History

Founded in 1862 at the time 13 influential Winterthur Industrial (including Salomon Volkart, Heinrich Rieter, Heinrich Sulzer Steiner and Johann Jakob Sulzer) the Bank in Winterthur with a starting capital of five million francs, that was doubled two years later. Already in 1869, the bank moved its headquarters to the city house road on which the UBS today operates its Winterthur branch. The Bank was able to pull massive profits from the Civil War and the concomitant increase in cotton prices. At the end of the war in 1865 they had doubled their trading capital.

1871, the Bank was involved in the founding of the SLM in Winterthur, 1872 involved in that of the Hotel Baur au Lac in Zurich and 1875 in the founding of the Swiss Accident Insurance Company ( later Winterthur Insurance ) and other companies. Also in the founding of the Basel Bank Corporation has been involved.

But there was in the 1870s and negative events: In addition to the Vienna stock market crash of 1873, which drew the bank affected, Henri went from Sulzer -Wart bankruptcy, owner of a bank in Le Havre, of the Bank in Winterthur a loss of several hundred thousand francs brought. Sulzer -Wart first fled to Port -au -Prince and later to New York to escape prosecution.

As part of its participation in the National Railway debacle of the SNB in 1887, the Bank lost a fifth of their capital. The collapse of the 1863 co-founded Lloyd transport insurance and reinsurance 1883 was for the bank is not without consequences, including the President and the Vice President Salomon Volkart Johann Ulrich Zellweger Waeffler, were forced to resign then. Both were as directors of Lloyd partly responsible for the bankruptcy of insurance. 1884 almost the entire Board of Directors was renewed in 1887, the bank was rehabilitated.

1906 took over the Bank in Winterthur Zurich branch of the bank in Baden and at the same time the whole stock company of the Bank.

The Bank in Winterthur merged finally in 1912 with the Toggenburg Bank Union Bank of Switzerland. The headquarters of this bank was until 1945 in Winterthur and St. Gallen, before moving to the parade ground in Zurich. 1998 merged SBC along with two other banks to today's UBS bank.