Karl Kimmich
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Karl Kimmich (b September 14, 1880 in Ulm, d September 10, 1945 in Berlin) was a German banker. From 1933 to 1942 he was member of the executive board of Deutsche Bank and from 1942 to 1945 chairman with the same firm.
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[edit] Early life
He was the son of the painter, art teacher and author Karl Kimmich senior and his wife Christine, née Autenrieth and had a younger brother, Max W. Kimmich, who was thirteen years his junior. The latter later married the youngest sister of Joseph Goebbels.
[edit] Education
After his Abitur, Kimmich became an apprentice at a private bank in Ulm before studying political economics, in which he promoted in 1906. After his promotion, he worked for the Schaffhausenscher Bankverein, a then Berlin bank. In 1915, he went to the Cologne head office of this bank where he became over the years one of the best adepts of the Rhine-Ruhr area. In 1919 he was made assistant member and two years later regular member of the supervisory board, but had to give up this position in 1929, when the Bankverein was merged with the Deutsche Bank.
[edit] Deutsche Bank
However, he got a new job at the syndicate transactions part of Deutsche Bank and made his fortune. Due to his knowledge of the Rhine-Ruhr economy, he was charged with the restructuring of - among others - the deeply indebted Cologne chocolate fabric of Stollwerck and the Mining company Lothringen. In May 1933, he became member of the executive board of Deutsche Bank in Berlin and stayed in this position until 1942. Between 1940 and 1942, he also was CEO of the bank, but had to resign this post then due to health reasons. He then became chairman and stayed in this position until his death. Besides, he also was member of the supervisory boards of numerous heavy industry companies and chairman of the loan committee of the Reichsbank.
[edit] Behaviour during Nazi era
During the Nazi era, Karl Kimmich was heavily involved in the so-called "Arianisation" of Jewish firms carried out by Deutsche Bank. By November 1938, - shortly before the Night of Broken Glass - he could report to official ranks that his company had arranged so far 330 "arianisations" that were mostly concluded. He also had close personal bindings to high Nazi officials, as his younger brother Max Wilhelm was brother-in-law to Nazi propaganda minister Joseph Goebbels. However, he was never sentenced for his actions during this time: Originally, the Allies had planned to bring to trial all members of the executive board of Deutsche Bank, but later dismissed this plan because they thought nothing would come out of it. Karl Kimmich died on September 10, 1945 - shortly before his 65th birthday - in Berlin. The reasons of his death - illness or suicide - are quite uncertain.
[edit] External links
- Biography by Deutsche Bank (in German, with photo)
- "Thunder from Arosa" Article about the saving of Stollwerck from bankruptcy
- "Heavy moral guilt" ZEIT-Article from 1995 on the politics of arianization led by Deutsche Bank (in German)
