Republic New York
Encyclopedia
Republic New York Corporation was the holding company for the Republic National Bank of New York
and the Safra Republic Bank. The company was controlled by billionaire
Edmond Safra
, who was killed in a fire in his Monte Carlo
penthouse apartment
by his nurse Ted Maher . Republic New York Corporation was sold shortly after its chairman's death to HSBC Bank USA
, the US subsidiary of HSBC
of the UK.
Joseph Safra
, the brother of Edmond Safra, controls and owns independently the Safra Group
of banks and financial institutions.
Republic National Bank was the basis for part of the TV show Law & Order
season 9 episodes "Refuge" part 1 and 2 that aired on May 26, 2009. In the episodes a NY bank that transferred bank notes abroad was involved with the Russian mob. Republic was the largest broker for US bank notes, and losses leading to its sale to HSBC and subsequent death of founder in Monte Carlo are attributed to its Russian involvements.
History:
1966: Republic National Bank of New York is founded by Edmond Safra
. Safra had previously opened the Trade Development Bank
in Geneva, Switzerland, which acquired a 36% stake in Republic.
1973: Republic New York Corporation was established as a one-bank holding company for Republic National Bank.
1974: Acquires Kings Lafayette Bank, which has 18 branches.
1975: Acquires American Swiss Credit Company, Ltd., formerly part of Franklin National Bank
.
1977: Opens Republic Factors Corporation.
1978: Opens Republic International Bank of New York in Miami, Florida
.
1980: Republic is listed on the New York Stock Exchange
. Opens Republic International Bank of New York in Los Angeles, California
.
1983: Edmond Safra sells Trade Development Bank
to American Express
. Several years later, American Express
tries to smear Safra, after he attempts to open a competing business.
1987: Acquires The Williamsburg Savings Bank.
1988: Edmond Safra organizes Safra Holdings S.A. in Geneva, Switzerland, which is 49% owned by Republic.
1990: Acquires Manhattan Savings Bank.
1992: Establishes Republic New York Securities Corporation.
1993: Acquires SafraCorp California and renames it Republic Bank California N.A. Acquires Bank Leumi of Canada. Acquires Mase Westpac Limited, which is a member of the London Gold Fixing. Acquires Citibank's World Banknote Services operations.
1999: HSBC
acquires Republic.
2001: Republic pleads guilty to fraud and agrees to restitution of $606 million in connection with cheating Japanese customers by its Republic New York Securities Corporation subsidiary.
Read more: Republic New York Corporation - Company Profile, Information, Business Description, History, Background Information on Republic New York Corporation http://www.referenceforbusiness.com/history2/68/Republic-New-York-Corporation.html#ixzz1HBRkUA8a
References
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
and the Safra Republic Bank. The company was controlled by billionaire
Billionaire
A billionaire, in countries that use the short scale number naming system, is a person who has a net worth of at least one billion units of a given currency, usually the United States dollar, Euro, or Pound sterling. Forbes magazine updates a complete list of U.S. dollar billionaires around the...
Edmond Safra
Edmond Safra
Edmond J. Safra was a Jewish Brazilian-naturalized, Lebanese banker who continued the family tradition of banking in Lebanon, Brazil and Switzerland. He married Lily Watkins. He died in a fire that attracted wide media interest and was judicially determined to be due to arson.-Life of Edmond...
, who was killed in a fire in his Monte Carlo
Monte Carlo
Monte Carlo is an administrative area of the Principality of Monaco....
penthouse apartment
Penthouse apartment
A penthouse apartment or penthouse is an apartment that is on one of the highest floors of an apartment building. Penthouses are typically differentiated from other apartments by luxury features.-History:...
by his nurse Ted Maher . Republic New York Corporation was sold shortly after its chairman's death to HSBC Bank USA
HSBC Bank USA
HSBC Bank USA, National Association, the American subsidiary of UK-based HSBC Holdings plc, is a bank with its operational head office in New York City and its nominal head office in McLean, Virginia . HSBC Bank USA, N.A...
, the US subsidiary of HSBC
HSBC
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
of the UK.
Joseph Safra
Joseph Safra
Joseph Safra currently runs the Brazilian banking and investment empire, Safra Group. As the chairman of all Safra companies, among them Safra National Bank of New York and the large Banco Safra headquartered in São Paulo, Brazil, he is ranked at 68 with a net wealth of 11.4$ billion on Forbes...
, the brother of Edmond Safra, controls and owns independently the Safra Group
Safra Group
The Safra Group is an international network of privately held companies controlled by the Safra family, comprising a banking and financial institutions conglomerate, industrial operations and telecommunications. It is present in the US, Europe, the Middle East, Latin America and the Caribbean.The...
of banks and financial institutions.
Republic National Bank was the basis for part of the TV show Law & Order
Law & Order
Law & Order is an American police procedural and legal drama television series, created by Dick Wolf and part of the Law & Order franchise. It aired on NBC, and in syndication on various cable networks. Law & Order premiered on September 13, 1990, and completed its 20th and final season on May 24,...
season 9 episodes "Refuge" part 1 and 2 that aired on May 26, 2009. In the episodes a NY bank that transferred bank notes abroad was involved with the Russian mob. Republic was the largest broker for US bank notes, and losses leading to its sale to HSBC and subsequent death of founder in Monte Carlo are attributed to its Russian involvements.
History:
1966: Republic National Bank of New York is founded by Edmond Safra
Edmond Safra
Edmond J. Safra was a Jewish Brazilian-naturalized, Lebanese banker who continued the family tradition of banking in Lebanon, Brazil and Switzerland. He married Lily Watkins. He died in a fire that attracted wide media interest and was judicially determined to be due to arson.-Life of Edmond...
. Safra had previously opened the Trade Development Bank
Trade Development Bank
Trade Development Bank was a private Geneva-based bank built by Edmond Safra in the 1950s. Beginning with only $1 million, the bank grew into the flagship of Safra’s international banking empire with nearly $5 billion in deposits by the early 1980s...
in Geneva, Switzerland, which acquired a 36% stake in Republic.
1973: Republic New York Corporation was established as a one-bank holding company for Republic National Bank.
1974: Acquires Kings Lafayette Bank, which has 18 branches.
1975: Acquires American Swiss Credit Company, Ltd., formerly part of Franklin National Bank
Franklin National Bank
Franklin National Bank, based in Franklin Square in Long Island, New York was once the United States' 20th largest bank. On October 8, 1974, it collapsed in obscure circumstances, involving Michele Sindona, renowned Mafia-banker and member of the irregular freemasonic lodge, Propaganda Due...
.
1977: Opens Republic Factors Corporation.
1978: Opens Republic International Bank of New York in Miami, Florida
Miami, Florida
Miami is a city located on the Atlantic coast in southeastern Florida and the county seat of Miami-Dade County, the most populous county in Florida and the eighth-most populous county in the United States with a population of 2,500,625...
.
1980: Republic is listed on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
. Opens Republic International Bank of New York in Los Angeles, California
Los Angeles, California
Los Angeles , with a population at the 2010 United States Census of 3,792,621, is the most populous city in California, USA and the second most populous in the United States, after New York City. It has an area of , and is located in Southern California...
.
1983: Edmond Safra sells Trade Development Bank
Trade Development Bank
Trade Development Bank was a private Geneva-based bank built by Edmond Safra in the 1950s. Beginning with only $1 million, the bank grew into the flagship of Safra’s international banking empire with nearly $5 billion in deposits by the early 1980s...
to American Express
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
. Several years later, American Express
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
tries to smear Safra, after he attempts to open a competing business.
1987: Acquires The Williamsburg Savings Bank.
1988: Edmond Safra organizes Safra Holdings S.A. in Geneva, Switzerland, which is 49% owned by Republic.
1990: Acquires Manhattan Savings Bank.
1992: Establishes Republic New York Securities Corporation.
1993: Acquires SafraCorp California and renames it Republic Bank California N.A. Acquires Bank Leumi of Canada. Acquires Mase Westpac Limited, which is a member of the London Gold Fixing. Acquires Citibank's World Banknote Services operations.
1999: HSBC
HSBC
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
acquires Republic.
2001: Republic pleads guilty to fraud and agrees to restitution of $606 million in connection with cheating Japanese customers by its Republic New York Securities Corporation subsidiary.
Read more: Republic New York Corporation - Company Profile, Information, Business Description, History, Background Information on Republic New York Corporation http://www.referenceforbusiness.com/history2/68/Republic-New-York-Corporation.html#ixzz1HBRkUA8a
References