Karl Kimmich
Karl Kimmich | |
|---|---|
| Born | Template:Birth date |
| Died | September 10, 1945 (aged 64) |
| Occupation | Banker |
| Years active | 1933–1945 |
| Known for | Chairman of Deutsche Bank (1942–1945), member of executive board (1933–1942) |
Karl Kimmich (born September 14, 1880 – died September 10, 1945) was a prominent banker in Germany. He was a member of the executive board at Deutsche Bank from 1933 until 1942 and subsequently held the position of chairman from 1942 until his passing in 1945.
Early life
Kimmich was born to Karl Kimmich senior, an artist and writer, and his wife Christine (née Autenrieth). His younger sibling, Max W. Kimmich, was married to the youngest sister of Joseph Goebbels.
Education
Following his completion of the Abitur, Kimmich undertook an apprenticeship at a private banking institution in Ulm. He pursued higher education in political economics, culminating in a doctorate awarded in 1906. Afterward, he joined the Schaffhausenscher Bankverein in Berlin, remaining there until 1915 when he transferred to its main office in Cologne. In Cologne, he became an influential figure within the Rhine-Ruhr industrial region. By 1919, he was appointed to the supervisory board and became a permanent member two years later. He stepped down from this role in 1929 when the Bankverein merged with Deutsche Bank.
Deutsche Bank
Upon the merger, Kimmich moved into Deutsche Bank’s syndicate transactions department. Utilizing his expertise in the Rhine-Ruhr area, he played a crucial role in reorganizing heavily indebted enterprises such as the Cologne-based chocolate producer Stollwerck and the Bochum coal mining operation Lothringen, which was later renamed Mining Company Lothringen. In May 1933, he advanced to Deutsche Bank’s executive board located in Berlin, where he served until 1942. Between 1940 and 1942, he held the position of CEO but resigned due to health complications. Subsequently, he became chairman and remained in that capacity until his death. Additionally, Kimmich occupied supervisory board seats at major industrial companies including Deutsche Erdöl-Aktiengesellschaft and Deutsche Reichsbahn, and chaired the loan committee of the Reichsbank.
Role during Nazi era
Throughout the Nazi regime, Kimmich was instrumental in facilitating Deutsche Bank’s "Aryanization" processes involving Jewish-owned businesses. In July 1938, he reported that out of approximately 700 Jewish enterprises listed by the bank, around 260 had been Aryanized, while expressing frustration over bureaucratic delays in approvals. By November 1938, just before , he indicated that about 330 such Aryanizations had been completed under his coordination. His connections to high-ranking Nazi figures were strengthened through family ties; his brother Max Wilhelm was related by marriage to propaganda minister Joseph Goebbels. Despite his participation in these activities, Kimmich was never subjected to legal prosecution; initial plans by American authorities to try Deutsche Bank executives were ultimately abandoned. He passed away in Berlin on September 10, 1945; however, the exact cause of death remains unclear.
External links
- Thunder From Arosa: Karl Kimmich and the Reconstruction of the Stollwerck Company, 1930–1932 – Business History Conference, Business and Economic History, Vol. 26, No. 2, Winter 1997
- "Schwere moralische Schuld" (Heavy moral guilt) – Die Zeit, September 1995 (German)