Speyer family
A prominent Jewish family of German descent whose banking houses operated in Frankfurt, New York, and London.
Last updated August 31, 2026
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Overview
The Speyer family was a prominent Jewish family of German descent associated especially with Frankfurt am Main and with international banking in the nineteenth and early twentieth centuries. The family took its name from Speyer in the Palatinate, the city from which its ancestors originated. Its documented lineage is traced to Michael Isaac Speyer, who lived from 1644 to 1692 and briefly served as head of Frankfurt’s Jewish community in 1691–1692. By the late eighteenth century, the Speyers had become the wealthiest Jewish family in Frankfurt, reportedly ranking above the Rothschild family in financial standing at that time. The family’s commercial influence developed through several related banking houses. Joseph Lazard Speyer took control of the Ellissen bank, which he inherited through his wife, Jette Ellissen. In 1818 he renamed the institution J. L. Speyer-Elissen. When his son Lazard Joseph assumed control in 1838, the business became Lazard Speyer-Ellissen. This Frankfurt house formed the family’s original major banking base and connected the family to European finance, trade, and securities markets. The family expanded internationally through Joseph Lazard Speyer’s sons. In 1837, Philipp Speyer left Frankfurt for New York City. He established Philipp Speyer & Co. in 1845; following his death in 1876, the firm was renamed Speyer & Co. His brother Gustav Speyer, born in 1825, joined him in the American enterprise before establishing Speyer Brothers in London in 1861. Through these businesses, the family participated in transatlantic finance and became a major underwriter and distributor of railroad securities. By the 1870s, the Speyer banking interests were among the five leading issuers of United States and Mexican railroad securities, competing with houses such as Kuhn, Loeb & Co. and J. P. Morgan & Co. The family’s business network declined during the twentieth century. Speyer Brothers in London was liquidated in 1922 after Gustav’s son Edgar Speyer departed the United Kingdom for the United States. The Frankfurt institution, Lazard Speyer-Ellissen, was dissolved in 1934, shortly after the Nazi seizure of power. The family’s Frankfurt residence, Villa Speyer, was confiscated by the Nazi authorities in 1938. In the same year, James Speyer retired and chose to close Speyer & Co. in New York rather than allow the firm’s name to continue under its remaining partners. The New York business was liquidated in 1939, bringing the family’s principal banking branches to an end. Beyond finance, the Speyers were important patrons in Frankfurt. They made substantial foundations and donations supporting science and scientific education, and their philanthropic funds helped establish the basis for the University of Frankfurt am Main. The family is therefore remembered both as a banking dynasty that helped finance nineteenth-century railroad expansion and as a Jewish philanthropic family whose institutions and property were affected by the political persecution of German Jews under National Socialism.
History
The Speyer family originated in Speyer in the Palatinate and became established in Frankfurt am Main as a prominent Jewish family. Its documented ancestry reaches back to Michael Isaac Speyer, who lived from 1644 to 1692 and served briefly as head of Frankfurt’s Jewish community in 1691–1692. During the late eighteenth century, the family was regarded as Frankfurt’s wealthiest Jewish household, exceeding the Rothschild family in reported wealth at that time. The family’s banking history began with Joseph Lazard Speyer’s takeover of the Ellissen bank, inherited through his wife Jette Ellissen. In 1818 he renamed the institution J. L. Speyer-Elissen. His son Lazard Joseph took control in 1838 and changed the name to Lazard Speyer-Ellissen. The Frankfurt business represented the family’s principal continental banking house. International expansion followed in the nineteenth century. Philipp Speyer moved from Frankfurt to New York in 1837 and founded Philipp Speyer & Co. in 1845. After his death in 1876, the firm became Speyer & Co. Gustav Speyer joined the New York venture before creating Speyer Brothers in London in 1861. The related firms made the family a significant force in transatlantic securities finance. By the 1870s, the Speyer banking interests were among the five leading issuers of United States and Mexican railroad securities, with Kuhn, Loeb & Co. and J. P. Morgan & Co. among their principal rivals. The banking network contracted in the twentieth century. Speyer Brothers was liquidated in 1922 after Edgar Speyer left the United Kingdom for the United States. Lazard Speyer-Ellissen was dissolved in Frankfurt in 1934, soon after the Nazi seizure of power. Villa Speyer, the family’s Frankfurt residence, was confiscated by the Nazi authorities in 1938. That year James Speyer retired and decided to close Speyer & Co. rather than permit the firm’s name to remain in use with its remaining partners. The New York branch was liquidated in 1939. The family also played a notable philanthropic role. Its foundations supported science and scientific education in Frankfurt, and family funding contributed to the institutional basis of the University of Frankfurt am Main. The Speyers’ legacy consequently combines international banking, railroad finance, philanthropy, and the destruction of a Jewish family’s German economic position under National Socialism.
- 1939
Speyer & Co. liquidated
[1]The New York banking firm was liquidated, ending the family’s three principal banking branches.
- 1938
Villa Speyer seized and James Speyer retires
[1]The family’s Frankfurt residence was confiscated by the Nazi authorities. James Speyer also retired and resolved to close Speyer & Co.
- 1934
Lazard Speyer-Ellissen dissolved
[1]The Frankfurt banking house was dissolved shortly after the Nazi seizure of power.
- 1922
Speyer Brothers liquidated
[1]The London branch was liquidated after Edgar Speyer left the United Kingdom for the United States.
- 1870
Speyer banking interests become major railroad-security issuers
[1]By the 1870s, the family’s banking houses ranked among the five leading issuers of United States and Mexican railroad securities.
- 1861
Speyer Brothers established in London
[1]Gustav Speyer established the London banking house Speyer Brothers.
- 1845
Philipp Speyer & Co. established in New York
[1]Philipp Speyer founded the New York banking firm Philipp Speyer & Co.
- 1838
Frankfurt bank becomes Lazard Speyer-Ellissen
[1]Lazard Joseph assumed leadership of the family business and changed its name to Lazard Speyer-Ellissen.
- 1837
Philipp Speyer moves to New York
[1]Philipp Speyer left Frankfurt for New York, initiating the family’s American expansion.
- 1818
Ellissen bank renamed J. L. Speyer-Elissen
[1]Joseph Lazard Speyer took over the Ellissen bank and renamed it J. L. Speyer-Elissen.
Products and positioning
A historically significant Jewish German banking family positioned around international merchant banking, railroad finance, and civic philanthropy.
Private banking and merchant banking · 1818
Lazard Speyer-Ellissen
The Frankfurt banking house descended from the Ellissen bank. Joseph Lazard Speyer renamed the business J. L. Speyer-Elissen in 1818, and Lazard Joseph changed the name to Lazard Speyer-Ellissen after taking control in 1838. It was the family’s principal German banking institution until its dissolution in 1934.
Investment banking · 1845
Speyer & Co.
The New York banking firm founded as Philipp Speyer & Co. in 1845. After Philipp Speyer’s death in 1876, it operated under the Speyer & Co. name. The firm participated in transatlantic securities finance and was closed in 1939 after James Speyer’s retirement.
Merchant banking · 1861
Speyer Brothers
The London banking house established by Gustav Speyer in 1861. It formed part of the family’s international banking network and was involved in the issuance and distribution of railroad securities. The business was liquidated in 1922.
Brand decisions
1938
Decision to close Speyer & Co.StrategyBackground
James Speyer retired amid the political and economic persecution of Jewish businesses and families under Nazi rule.
Action taken
He chose to close Speyer & Co. rather than allow the Speyer name to continue with the firm’s remaining partners.
Aftermath
The New York branch was liquidated in 1939, ending the last of the family’s three principal banking houses.
Sources3 sources
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