BRUSSELS, 10 October 2016 – An international jury of prominent experts in financial history have awarded Mr. Thorsten Proettel the top prize from the 2016 edition of the Savings and Retail Banking Award sponsored by WSBI and ESBG.
Meeting in late September, and after extensive evaluation of applications received, the panel gave the €5,000 first prize award to Mr. Proettel for his study "Path dependencies in European Savings Banks: The impact of fundamental decisions during the wave of foundations 200 years ago".
A doctoral candidate at the University of Mannheim and an economist since 2007 at the Landesbank Baden-Württemberg, Mr. Proettel analysed the different patterns in organisation schemes and investment of deposits existing among the savings banks in the 19th and early 20th century. He compared the evolution of the savings banks in different European countries such as the United Kingdom, France and Germany, drawing some interesting conclusions.
The €2,500 second prize has been given to Ms. Carolin Thol, who is supported by the London School of Economics and employed as an analyst at Belmana Ltd. In her paper "Poverty Relief and Financial Inclusion: Savings Banks in Nineteenth Century Germany", Ms. Thol examined the effects of savings banks on poverty relief and financial inclusion in the German state of Saxony during the nineteenth century based on new statistical data. WSBI and ESBG rewarded Ms Thol for her outstanding and innovative approach to the historical statistical data collected on the savings banks in Saxony.
Both winning studies will be published later this year as part of the WSBI and ESBG research series.
An awards dinner is planned for December in Brussels.
Why it's important
A significant amount of research has been conducted on the banking sector, and specifically on savings banks, but there is still plenty of unknown territory to discover and explore. The European Savings and Retail Banking Group (ESBG) and World Savings and Retail Banking Institute (WSBI) see it essential to encourage and support research into savings and retail banks and financial history. This research is needed to increase awareness and appreciation of the characteristics of savings and retail banks within the context of the multi-dimensional world of banking.
The award seeks to:
encourage historical and comparative research into the savings and retail banking industry worldwide;
stimulate thought and discussion on trends and market forces affecting the evolution of the industry; and
strengthen collaboration among international research centres and academia.
>> Learn more about the award