private subsidiary of the ing group industry financial services cash management predecessor gans & co mendes gans & co. founded 1883 founder julius gans isaak mendes headquarters amsterdam netherlands key people eric hollanders ceo jan pieter pak coo services netting cash pooling cash balancing inter company loans liquidity management information management revenue 76 764 000 2011 1 operating income 46 983 000 2011 profit 35 235 000 2011 total assets 7 618 938 000 2011 total equity 228 330 000 2011 number of employees 157 2011 parent ing group website www.mendesgans.com bank mendes gans bmg 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 as part of commercial banking 2 . contents 1 activity 2 history 3 shareholder ing bank n.v. 4 references 5 see also 5.1 external links activity edit 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 netting 3 contrary to banks like for example abn amro or citibank . bank mendes gans has about 250 clients half of them in the usa . 4 mcdonald s is a client of the bank 5 as well as china international marine containers . 6 history edit 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 from jewish portuguese descent 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 under supervision of and licensed by the dutch central bank de nederlandsche 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 . 6 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 1928 at the age of 65 . shareholder ing bank n.v. edit ing bank n.v. gradually purchased 99 % of the bmg shares from main shareholders philips finance company manufacturers hanover trust currently jp morgan chase and dow chemical . early 2000 the decision was made to de list bank mendes gans n.v. from the amsterdam stock exchange aex effectenbeurs euronext amsterdam on february 1 2000 . by ending the quotation the amsterdam stock exchange did not only lose one of its most expensive funds the shares were valued in excess of 20 000 dutch guilders over 9 000 euros but also one of its oldest . with its own board of management supervisory board banking license and annual report bmg is an independently operating business unit of ing commercial banking . references edit annual report 2011 pdf . commercial banking payments and cash management . netting simplicity at its best pdf . people.bath.ac.uk . retrieved 2016 06 30 . chana r. schoenberg 4 april 2012 . companies keeping cash in one place to minimize fx risk . wsj.com . retrieved 2016 06 30 . rob o neill 13 january 2013 . mcdonald s pulls claim 95c in dollar stays in nz . stuff.co.nz . retrieved 2016 06 30 . a b pioneering best practices in global liquidity and risk management . treasury management.com . retrieved 2016 06 30 . see also edit external links edit official website retrieved from https en.wikipedia.org w index.php title bank mendes gans & oldid 727721434 categories banks of the netherlandscompanies of the netherlandsing groupbanks established in 18831883 establishments in the netherlands navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages nederlands edit links this page was last modified on 30 june 2016 at 20 57 . text is available under the creative commons attribution 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