Jacob Valero (1813–1874) was the founder of the first
private bank in
Palestine
__NOTOC__
Palestine may refer to:
* State of Palestine, a state in Western Asia
* Palestine (region), a geographic region in Western Asia
* Palestinian territories, territories occupied by Israel since 1967, namely the West Bank (including East ...
, Jacob Valero & Company.
In 1839, Jacob (Ya'akov) Valero appeared in Jewish communal records as a
ritual slaughterer of the Sephardi community in Jerusalem. In 1849, he was described as a "talmid hakham" (scholar). In 1835, his profession was listed as "moneychanger." He opened his bank in 1848 in the Old City of
Jerusalem and managed it until his death. The Valero Bank financed the building of a railway from Jaffa to Jerusalem.
The Bank financed the building of the Prince Sergei Hostel in the Russian Compound and handled the money for Kaiser Wilhelm’s grand entrance into Jerusalem in 1898.
Valero was an
Ottoman subject until 1860, and then became a subject of the
Austro-Hungarian Empire
Austria-Hungary, often referred to as the Austro-Hungarian Empire,, the Dual Monarchy, or Austria, was a constitutional monarchy and great power in Central Europe between 1867 and 1918. It was formed with the Austro-Hungarian Compromise of ...
. The bank closed in 1915.
Glass and Kark, "Sephardi Entrepreneurs in Jerusalem-The Valero Family 1800-1948"
/ref>
See also
*Chaim Aharon Valero
Haim Aharon Valero (1845–1923) was a banker, entrepreneur and a prominent figure in the Jewish community of 19th century Jerusalem. Under his direction, the Valero Bank, founded in 1848 by his father Jacob, acted as catalyst in the development ...
, son of Jacob Valero.
*Aaron Valero
Aaron Valero (1913–2000) was an Israeli physician and educator who helped establish hospitals and medical schools, authored medical publications and contributed greatly to the advancement of medical education in Israel in the latter half of t ...
, great-grandson of Jacob Valero. Israeli physician and educator.
References
Bibliography
* "Guide to Palestine and Egypt" by Macmillan & Co, (Page 15) Published 1901.
*Simon Sebag Montefiore ''Jerusalem The Biography'' (2011) Page 344,360. W&N (Orion) London.
{{DEFAULTSORT:Valero, Jacob
1813 births
1874 deaths
19th-century Sephardi Jews
Austro-Hungarian Sephardi Jews
Bankers from the Ottoman Empire
Sephardi Jews in Ottoman Palestine