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ODDO BHF is an independent Franco-German financial services group. It was created from the alliance of a French family-owned business built up by five generations of stockbrokers and a German bank specialising in Mittelstand companies.[1] ODDO BHF operates in three main businesses: private banking, asset management, and corporate and investment banking.
History of BHF Bank
The bank was formed on 1 January 1970 as the Berliner Handels und Frankfurter Bank from the merger of the Frankfurter Bank (founded in 1854) and the Berliner Handels-Gesellschaft (founded in 1856).[2] In 1970, when the BHF-Bank tower was built by the German architect Sep Ruf, it was the highest building in Frankfurt. In 1975, the bank was renamed to BHF Bank. Through the 1970s and 1980s, it was in the top three to five investment banks in West Germany and had a top position in the foreign exchange market. Its former senior partner, Hanns Schroeder-Hohenwarth, became the President of the German Banks Association from 1983 to 1987.
In 1995, the bank went public, changing from a partnership to a corporation. From 1999 to 2004, it was bought by the Dutch ING Group and renamed in 2002 as the ING BHF-Bank. In the same year, it was delisted; its remaining shareholders were squeezed out.
In 2004, ING BHF-Bank was split. The majority of the bank's business operations, offices, and equity shareholdings were integrated into the newly founded BHF-BANK Aktiengesellschaft, which was then acquired by the private bank Sal. Oppenheim as its sole shareholder. Sal. Oppenheim was taken over by the Deutsche Bank in 2010; BHF-BANK, which has always operated on a stand-alone basis, was put up for sale.
In 2014, the bank has formed as a part of BHF Kleinwort Benson Group, which was taken over by the French private bank Oddo et Cie. By mid-March 2016, Oddo et Cie had acquired 100% of the Group's shares and has thus become BHF-BANK's indirect sole shareholder. In April 2017, the company was renamed to ODDO BHF Aktiengesellschaft.
History of ODDO BHF
Oddo & Cie was founded in 1967 by Bernard Oddo, a stockbroker in Marseille (France).[3]
1980s
In 1987, Philippe Oddo became the managing partner.[4]
In 1988, AGF Group entered the capital of the company, becoming a minority shareholder.[5]
1990s
In 1991, Oddo et Cie opened its Oddo DV subsidiary in Madrid.
In 1997, the company acquired Delahaye Finance,[6] which is specialized in private management. In 1998, the Group established in the United States, with the launch of Oddo Securities Corporation in New York City. In the same year, Oddo Options is launched, aiming to gather all the options trading activities in Paris, Madrid, and Milan.[7]
The 2000s were marked by several acquisitions from Oddo et Cie. In 2000, the Group acquires Pinatton,[9] a company specialized in intermediation, corporate finance, and private banking. In 2003, Oddo et Cie acquires NFMDA (private management)[10] and the European credit intermediation activities of Crédit Lyonnais in 2004. In 2005, Oddo et Cie buys Cyril Finance Asset Management,[11] and KilbraXE in 2007.
In the same year, the Group obtains the status of the bank.
In 2006, the Group launches its new branch Oddo Metals for metal trading.[12]
Concurrently with these acquisitions, Oddo et Cie had partnerships. In 2003, the Group launched Génération Vie, a joint venture with Allianz. La Banque Postale Private Banking launched in 2007 in partnership with La Banque Postale to expand the Group's private clientele.[13]
In 2009, the Group launches Oddo Research Institute in Tunis.
2010s to present
In 2010, a commercial agreement is signed by Oddo Services and Société Générale Securities Services (SGSS) to develop a joint offering of securities services.[14]
Since 2010, the Group has made new acquisitions, such as the Banque d'Orsay from the German WestLB (2010),[15] the Banque Robeco from the Robeco Group (2010),[16] ODDO SEYDLER BANK AG, now renamed to ODDO BHF Corporates & Markets AG (market activities) from English Close Brothers Group (2014),[17] Meriten IM (asset management) from BNY Mellon (2015).[18] In 2010, rises to 65% in the capital of Patrimoine Consultant, becoming the society's majority shareholder.[19] In 2016, Oddo et Cie acquired BHF Bank, rebranded to ODDO BHF the following year.
