After the American Civil War ended, the eight Seligman brothers decided to go into the banking business and a year later, Jesse Seligman went to Frankfurt, Hesse-Nassau, to open a bank, where they were the first American banking firm to sell United States Government bonds in Europe.
Following the end of the American Civil War, the Seligman brothers entered the banking sector. A year after their entry into the industry, Jesse Seligman established a bank in Frankfurt, Hesse-Nassau, making it the first American financial institution to sell U.S. government bonds in Europe.