page_title: Banque Worms
section_title: World War II
hierarchical_section_title: Banque Worms / World War II
caption_attribution_description: Français&#160;: Article antisémite de Rudy Cantel vitupérant les trusts, "l'influence juive" et la banque Worms. Une du journal collaborationniste Paris-Soir du 23 octobre 1940.
context_page_description: The Banque Worms was a merchant bank founded by Hypolite Worms in 1928 as a division of Worms & Cie. The banking services division provided financing services to other branches of Worms & Cie, which were involved in ship building, shipping and the coal trade. During World War II, Worms & Cie was placed under German supervision, and was subject to intense scrutiny after the war on suspicions of collaboration. The banking services division was spun off as the independent Banque Worms et Cie in 1964. The bank was nationalized in 1982 by the socialist government of François Mitterrand. The bank engaged in risky real estate investments, and lost most of its value. After being re-privatized, it was owned in turn by two insurance groups, then was acquired by Deutsche Bank. The bank was wound down in 2004.
context_section_description: After the outbreak of World War II (1939–45), in November 1939, Hypolite Worms was placed in charge of the French delegation to the Franco-English Maritime Transport Executive in London. After the Fall of France in June 1940, Worms took responsibility for transferring the French merchant fleet to Britain, and on 4 July 1940 signed what was called the "Accords Worms". He then returned to France via Portugal and Spain, and reported to Admiral Darlan in Vichy. The French ordinance of 18 October 1940 placed companies, whose leaders were not considered true Aryans, under state control. Although Michel Goudchaux at once resigned from his position as associate manager, and although Hypolite Worms was born of a Christian mother and had been baptized at birth, Worms & Cie was placed under state supervision. Olivier de Sèze of the Bank of France was made provisional administrator and a German banker was appointed to the board. Hypolite Worms became the target of violent attacks in the pro-German press.
  While part of Worms & Cie was installed provisionally in Nantes, the banking services department continued to operate in Paris with a small staff under the leadership of Gabriel Le Roy Ladurie, as director, and Raymond Meynial, as deputy director. Le Roy Ladurie, who spoke perfect German, was responsible for relations with the German Commissioner. On 1 November 1940, an agency of the banking services department was set up in Marseille to serve the Free Zone. In 1941 the banking services division opened an agency in Algiers, which grew rapidly and continued to operate successfully after Operation Torch in November 1942, when the Allies landed in North Africa. The main branch of banking services in Paris continued to provide financing to French companies for the remainder of the war.
  After the liberation of France, the principals of Worms & Cie were investigated for possible collaboration with the Germans. Hypolite Worms and Le Roy Ladurie were arrested on 8 September 1944. They were released on 21 January 1945, and charges dismissed on 25 October 1946. The inquiries found that Worms & Cie Banking Services had only played a small and involuntary role in financing for the Germans. Jacques Barnaud, who had left the company to work for the Vichy government, was held until 20 June 1946, and was not cleared until 26 January 1949.
caption: Paris-soir 23 October 1940. Antisemitic and anti-trust article attacking Worms
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