Bank Mendes Gans
Bank Mendes Gans is a Dutch bank specialising in international cash management services. Founded in 1883 and located in the centre of Amsterdam, the Netherlands, BMG is an independently operated subsidiary of the ING Group.
Activity
Bank Mendes Gans is a worldwide renowned niche player in the area of liquidity and information management for large multinationals. The company is one of the most important cash management specialists in the world. BMG's core activity is cash management.Bank Mendes Gans has about 350 clients, half of them in the USA.
History
At the time the Amsterdam born Julius Gans founded his brokerage firm Gans & Co. in 1883, he mainly traded in foreign stock, drafts and coupons. Six years later, on May 23, 1889, Isaak Mendes joined the firm as his partner. Consequently, the name of the brokerage firm changed to Mendes Gans & Co.In 1911, Mendes Gans & Co. changed into a licensed bank. In those days, the company was mainly involved in managing the investment portfolio of wealthy Dutch individuals.
After World War I, the bank relocated to Herengracht 619, a stately residence built in 1667 by order of Jan Six (1618), former mayor of Amsterdam. The building is designed by architect Adriaan Dortsman. The bank is still located at these premises.
With guidance of the American company and shareholder Dow Chemical, Mendes Gans focused on cash management in the sixties. This, consequently after divesting the brokerage business to ING, led to the further specialization as a cash management bank.
As result of the Nazi occupation of the Netherlands, Isaak Mendes fled during the hectic 'May days' of 1940 to the south of France, where he died in poverty at the age of 70 before the war ended. Partner and co-founder Julius Gans died in 1924 at the age of 65.