Bankhaus Gebrüder Stern

The brothers Wolf and Isaak Stern set up a private bank in 1862. Their father Hirsch Oppenheimer was already a banker and economic advisor to the King of Hanover. At that time, the banking business was located at Fahrgasse 1. In 1901, on the occasion of the move to Frankfurter Strasse 25, all the craftsmen involved were listed by name. This shows that the family is initially not only talented in their business, but was also socially minded: They honor with the naming their employees.

The bank survives the crisis years of the Weimar Republic almost untouched. Owned by Julius Stern and his son Dr. Kurt Stern, the bank became a leader in the sale of war bonds during the First World War. For this Julius Stern receives the Cross of Merit for War Aid. He also becomes head of the Hanau banking association (Commerz- und Privat-Bank; Danat-Bank; Disconto-Gesellschaft; Dresdner Bank; Gebrüder Stern). Dr. Kurt Stern calls the company from his father Julius and himself "the most significant and active among all banks."

During the Great Depression, the bank helps companies out with loans and helps build the diamond cutting industry. For 85% of the 120 diamond cutting companies nationwide, the successful bank handles the business. It is indeed one of the most active regional credit institutions in the Rhine-Main area with high capital (RM1.3 million) and reserves (about RM800,000). At its peak, Privat employs about 4000 people.

From 1933 at the latest, the bankers Stern are harassed by local Nazi officials such as the Nazi District Administrator Löser through mostly futile threats, blackmail attempts, personal visits and other intimidation. SS officers use intimidation tactics to try to obtain loan waivers for acquaintances. Then, in 1934, the bank is "Aryanized." Dr. Kurt Stern, like the other owners, loses all his assets, including his wife's dowry. He has to leave Germany in 1935.