A Chronological Overview

1918 - 1949

Formation of Deutsche Girozentrale (DGZ)
Deutsche Girozentrale (DGZ) (German Sparkasse Clearinghouse) is founded in 1918. Formed as a legally dependent banking division of the Deutsche Zentral-Giroverband (German Central Sparkasse Clearing Association) in Berlin, it is firmly rooted in the Sparkasse savings bank organisation from the beginning. Initially, it mainly handled money transmission and facilitated cashless transactions for Sparkasse banks and clearinghouses.
1918-1947 Headquarters of DGZ Berlin
Print from 1936
Historical picture of the DGZ in Berlin 1918
DGZ recognised as a public banking institution
The Bank is authorised to issue bearer bonds (“German municipal bonds”). Starting in 1921, DGZ also acted as a central credit financing institution for cities and municipalities, which is why the addendum “Deutsche Kommunalbank” (German Municipal Bank) was added to its name.
Frankfurt am Main branch established
DGZ opens this branch to take advantage of the opportunities associated with the stock exchange centre in Frankfurt am Main.
DGZ develops into a central money market trader
The Deutsche Sparkassenverband (German Sparkasse Association) and Deutche Zentral-Giroverband merge in 1924 to form the Deutsche Sparkassen- und Giroverband (DSGV) (German Sparkasse and Clearing Association). After the merger of these associations, DGZ focuses primarily on providing financing to cities and municipalities and develops into a central money market trader. As liquidity manager for the Sparkasse clearinghouses, it organised money transmission and clearing transactions, is active in currency trading and is also involved in cross-border payment transactions.
Transformed into a legally independent public institution
Under the Third Decree of the President of the German Reich for Securing the Economy and Finances, dated 6 October 1931, DGZ became a legally independent public institution as a result of the reorganisation of the municipal banking system. In 1932, it received its own articles of association. DSGV, however, continued to bear unlimited liability.

Business realignment
The “municipal loan ban” issued in 1931 and revoked in 1939 brings the municipal credit business to almost a complete standstill. Until 1945, DGZ primarily acts as liquidity manager for Sparkasse banks and clears payment transactions.
As of
After the Second World War, DGZ was located in the Soviet-controlled part of Berlin and was instructed by the Allies to restrict itself to handling existing business. Due to the severe decrease in business activity, DGZ is forced to discharge more than 90 per cent of its employees. Bank assets were initially transferred to a so-called Banking Commission. In May 1949, bank assets in the Eastern Sector of Berlin pass into the “possession of the people” of the German Democratic Republic (GDR). One month later, DGZ receives authorisation to dispose of its claims in West Berlin.
Provisional office opened in West Berlin
Recognition as a Bank in Düsseldorf that had had to move its Registered Office
Under a decree of 3 October 1949 issued by the Finance Minister of North Rhine-Westphalia, Deutsche Girozentrale –Deutsche Kommunalbank–, Berlin, is recognised as displaced. Düsseldorf is deemed to be its registered office for business activities within the currency area (federal territory of Germany). Recognition is granted under the condition that business operations be restricted to the long-term municipal loan business and that other business operations be wound up.
Branch opened in Düsseldorf

1950 - 1989

Resumption of banking business in Düsseldorf
It was only in 1954 that DGZ resumed the full scope of its banking business in Düsseldorf. The main focus was on liquidity equalization and money transactions. In the municipal credit business, the bank concentrated mainly on the federal government and its authorities. Securities issues also gained in importance.
Formation of Deka Deutsche Kapitalanlagegesellschaft mbH
Deka Deutsche Kapitalanlagegesellschaft mbH was established on 17 August 1956 in Düsseldorf. This company became the foundation for all of the current investment activities carried on under the umbrella of the Deka Group. Today, Deka Investment GmbH manages and administers equity, bond and money market mutual funds, and special funds for institutional investors, which have been established under German law.
Front page of the first financial report of DekaFonds I of 1956
As of
DGZ and Deka move to Frankfurt am Main
Frankfurt am Main established itself as the central location of the German financial system after the Second World War, making it necessary for both companies to move. DGZ’s stated objective was to strengthen its profile as a public-sector, profit-oriented commercial bank. The Frankfurt am Main metropolis also promised to further strengthen Deka’s positive sales and earnings.
Formation of Despa Deutsche Sparkassen-Immobilien-Anlage-Gesellschaft mbH
Despa Deutsche Sparkassen-Immobilien-Anlage-Gesellschaft mbH was established together with the regional Sparkasse clearinghouses in response to growing interest in open-ended real estate funds. This line of business, handled today by Deka Immobilien Investment GmbH, developed very successfully thereafter.
Formation of DGZ International S.A.
Deutsche Girozentrale International S.A. was the fourth German bank established in Luxembourg. DGZ’s goal was to expand its Euromarket business. In 1982, DGZ opened its own branch in Luxembourg, thereby completing its cross-border range of services.
Formation of Deka International S.A.
Deka International S.A. (DIL), a subsidiary of Deka Deutsche Kapitalanlagegesellschaft mbH with registered office in Luxembourg, is initially established solely as a fund management company for launching and managing mutual funds. It has managed equity funds, bond funds, money market funds and funds of funds established under Luxembourg law since 1988.

1990 - 1999

Movement into the new federal states of Germany
DGZ functioned as a central institution for the Sparkasse banks in the new federal states and also offered advisory programs. This was, however, only a form of temporary assistance, and in the end the Sparkasse Finanzgruppe made the decision to establish independent regional banks.
Formation of DekaBank (Luxembourg) S.A.
Formed as a subsidiary of Deka Deutsche Kapitalanlagegesellschaft mbH, DekaBank (Luxembourg) provides service to retail investors, offering safekeeping of fund units in S LuxDepot securities accounts, and fund-based asset management in S DynamikDepot securities accounts. DekaBank in Frankfurt is responsible for portfolio management.
Formation of Deka Investment Management GmbH
Deka Deutsche Kapitalanlagegesellschaft mbH forms Deka Investment Management GmbH as an investment fund company for institutional investors.
Formation of Deka(Swiss) Finanz AG, Zurich
Deka Deutsche Kapitalanlagegesellschaft mbH formed a subsidiary with its registered office in Zurich. The company specialises in providing investment advisory services and fund-based asset management. The company has operated under the name Deka(Swiss) Privatbank AG until the end of 2013.
Formation of Deka (neu) GmbH
Deka Deutsche Kapitalanlagegesellschaft mbH forms another subsidiary, to which it outsources its fund business in the following year.
New Name of DekaBank GmbH
Deka Deutsche Kapitalanlagegesellschaft mbH receives its banking licence and now trades as DekaBank GmbH. It outsources its fund business to Deka (neu) GmbH. The resulting holding company structure now allowed the greatest possible flexibility in the market and also made possible the merger of Deka and DGZ that was subsequently pursued.
Renaming of Deka (neu) GmbH
Deka (neu) GmbH, a subsidiary of DekaBank GmbH, is initially renamed Deka Deutsche Kapitalanlagegesellschaft mbH before receiving the name “Deka Investment GmbH” in 2002.
Merger of DekaBank GmbH and Deutsche Girozentrale Deutsche Kommunalbank (DGZ)
The merger of DGZ and DekaBank GmbH to form DGZ•DekaBank Deutsche Kommunalbank on 1 January 1999 resulted in a combination of business areas that were different, but at the same time complementary. The merger of these two companies is the response of the Sparkasse Finanzgruppe to the increasing requirements in globalised financial markets for the benefit of customers, unit holders, distribution partners and employees.

2000 - 2009

DGZ•DekaBank Deutsche Kommunalbank becomes DekaBank
Deka’s brand policy, which was broadened in the middle of the year, is now focussed. The “DekaBank” brand is added to the positioning strategy, affecting activities that had generally been bundled under the “Deka Investmentfonds” brand. The essential requirements for this change were satisfied when the company was renamed on 1 July 2002, and DGZ•DekaBank Deutsche Kommunalbank became “DekaBank Deutsche Girozentrale“.
Merger of Deka Investment Management GmbH
Deka Investment Management GmbH merged with Deka Investment GmbH on 1 January 2002 to form the current company “Deka Investment GmbH”, with registered office in Frankfurt am Main.
WestInvest Gesellschaft für Investmentfonds mbH
Effective 1 January 2004, DekaBank Deutsche Girozentrale increased its interest in WestInvest Gesellschaft für Investmentfonds mbH from 40% to 94.9% and took over its real estate funds.
Deka FundMaster Investmentgesellschaft mbH
Established in 1999, Deka FondsSupport GmbH receives the status of an investment company and operates in the market as Master- und Fondsservice-KAG. Since 30 August 2004, its company name has been “Deka FundMaster Investmentgesellschaft mbH”.
„First Choice Deka“
Commission earnings reached EUR 883 million in 2006, the highest level in the history of the bank. This financial year was also marked by a strategic realignment: Activities in the Real Estate Asset Management division were radically restructured. The loan business, trading and sales activities in the capital market sector, and refinancing business were bundled into the newly formed Corporates & Markets division. The initiatives combined under the “First Choice Deka” motto are aimed at expanding the partnership between the Sparkasse banks and state banks, and creating added value for alliance partners and permanently positioning the Deka Group as an exclusive partner through excellence in sales and support services.
Standard & Poor’s Award
Deka Investment won the 2006 prize for best major fund company at the 2007 Standard & Poor’s Fund Awards ceremony on 29 March 2007.
Achiever of the Year
Deka Investment received the Golden Bull award as “Achiever of the Year” at the 2008 Euro Fund Awards on 25 January 2008, in addition to 17 awards for individual funds.
Exchange Traded Funds (ETFs)
DekaBank established ETFlab Investment GmbH in January 2008 in the Corporates & Markets division and entered into the ETF business on 31 March 2008, thereby expanding its range of products with a new product category that is custom-tailored to the needs of institutional clients.
Acquisition of PPP-Specialist WestKC
DekaBank acquires Westdeutsche Kommunal Consult GmbH (WestKC) from WestLB AG, a leading advisor to municipalities and public-sector companies in Germany. It has operated under the name “DKC Deka Kommunal Consult GmbH” since 22 December 2008.
Formation of Dealis Fund Operations GmbH
Dealis Fund Operations GmbH is a joint venture between Allianz Global Investors and DekaBank, which was established on 18 December 2008 and specialises in providing fund bookkeeping and administration services. It began operations on 1 January 2009.
Formation of Dealis Fund Operations S.A., Luxembourg
The Luxembourg-based subsidiary Dealis Fund Operations S.A. also commences operations on 1 January 2009.
DekaBank’s First Environmental Report
DekaBank continues to pursue sustainability in its business operations. Following the introduction of an in-house environmental management system in 2008 and its certification in 2009, the Group presents its first environmental report for 2008.

2010 - heute

Morningstar Fund Awards
The Morningstar Fund Awards recognises Deka Investment GmbH as the “Best Major Bond Investment Company” in Germany.
Interest Acquired in Luxemburger Leben S.A.
DekaBank Deutsche Girozentrale Luxembourg S.A. acquires a 50 per cent interest in the life insurance company Luxemburger Leben S.A. on 1 July 2010. At the same time as the interest was acquired, the company started distribution of its products within the Sparkasse savings bank organisation.
Formation of Gesellschaft für Mittelstandskreditfonds der Sparkassen-Finanzgruppe mbH
Mittelstandskreditfonds (MKF), a joint venture between DSGV and DekaBank, commences normal operations on 1 September 2010. All German Sparkasse savings banks can now offer traditional unsecuritised new loans to small- and medium-sized companies and/or invest in MKF’s portfolio.
Acquisition of WestLB International S.A.
DekaBank Deutsche Girozentrale Luxembourg S.A. acquires WestLB International S.A. on 1 January 2011. The name of this former WestLB subsidiary was changed to VM Bank International S.A.
Acquisition of the Retail Banking Business of LBBW Luxembourg S.A.
DekaBank Deutsche Girozentrale Luxembourg S.A. also acquires the retail banking business of LBBW Luxembourg S.A. on 1 January 2011.
100 per cent Sparkasse
In April 2011, the agreement is signed for the Sparkasse bank acquisition of the 50% interest in Deka Group held by the German state banks. The effective date of the agreement was 8 June 2011. After the change in ownership, the German Sparkasse savings banks are the sole shareholders of Deka Group.
FondsConsult Test Winner
DekaBank Asset Management receives a score of 1.8 (“Good+”) in the 2011 FondsConsult study, putting it in first place in the overall standings for the first time.
Transformation program D18
In late 2012 the foundation of the reorganization of the Deka Group to the Wertpapierhaus of the German savings banks was laid with the transformation program D18. Deka Group shall be extended to the complete supplier for everything about the business in securities.
Deka Group starts certificate business for retail customers
Starting in January 2013 Deka Group supplies investment certificates for retail customers of the German saving banks. The focus is on simple and transparent standard products.
Deka Institutionell is the new brand for institutional investors
Deka Group bundles its product and service range for institutional investors under the brand Deka Institutionell, starting in September. The range of services comprises the complete spectrum of the institutional asset management and liquidity management as well as the credit and risk management and in addition covers services such as Master-KVG and depositary bank.
Deka Group signs German Sustainability Code
With the signing of the German Sustainability Code on 12 December 2013, the Deka Group strengthens its position in the sustainability sector. This step encourages the transparency and sustainable business orientation of the Deka Group.
Acquisition of LandesbankBerlin and LBB-INVEST
The customer-oriented capital market business of LBB und the LBB-INVEST will be acquired by the Deka Group at the turn of the year 2013/14. The LBB-INVEST will be continued as an independent company in Berlin.
Deka Investmentfonds turns into Deka Investments
By January 2014 the new brand “Deka Investments” will replace the previous brand presence “Deka Investmentfonds” in the private customer segment. Thereby the brand emphasizes the role of the Deka Group as the Wertpapierhaus of the German saving banks with an expanded service range.
Capital-Fonds-Kompass: Deka Group honored with five stars anew
In February 2014 Deka Group was honored with the highest mark of five stars the second time in a row at the “Capital-Fonds-Kompass” from the business magazine Capital.
25 years WestInvest
In 2014 WestInvest celebrates its 25-year existence. The WestInvest Gesellschaft für Investmentfonds mbH was founded on 11 April 1989 (as Rheinisch-Westfälische Grundstücks-Investment GmbH) and is almost wholly owned subsidiary of Deka Group since 2004.