Schröder, Münchmeyer, Hengst & Co.
| Company type | Private |
|---|---|
| Industry | Investment banking, Private banking |
| Predecessor | Schröder Gebrüder & Co., Münchmeyer & Co., Friedrich Hengst & Co. |
| Founded | 1969 |
| Defunct | 2001 |
| Fate | Acquired by UBS; brand discontinued |
| Successor | UBS |
| Headquarters | Hamburg , Germany |
Area served | Germany |
| Products | Financial services for the German financial industry |
| Parent | UBS (from 1997) |
Schröder, Münchmeyer, Hengst & Co. (SMH) was a German investment and private banking institution based in Hamburg, Germany. Established in 1969 through the consolidation of Schröder Gebrüder & Co., Münchmeyer & Co., and Friedrich Hengst & Co., SMH focused mainly on serving the German financial services industry. The company was purchased by UBS in 1997, with the SMH brand being discontinued by 2001.
History
In 1983, SMH encountered significant difficulties due to excessive lending to associated firms located in Luxembourg. The collapse of a major client in the construction machinery sector triggered considerable financial strain. Intervention by German regulatory authorities and the Deutsche Bundesbank led to debt restructuring efforts and the divestiture of assets. During this recovery phase, SMH divested its investment banking division along with other profitable segments to Lloyds Bank.
The acquisition of SMH by Union Bank of Switzerland took place in 1997, aiming to enhance its footprint within Germany’s investment banking and private wealth management arenas. Initially, SMH retained its brand identity; however, after the 1998 merger between Union Bank of Switzerland and Swiss Bank Corporation that created UBS, the SMH name was integrated into the larger group. By 2001, the SMH designation was phased out, marking its departure from the German banking landscape.