Home News Sal Oppenheim sold derivatives business to Macquarie

Sal Oppenheim sold derivatives business to Macquarie


FRANKFURT (Dow Jones) – The soon to Deutsche Bank owned tradition Oppenheim its derivatives business has sold to the Australian bank Macquarie and thus streamlined under the new mother. (Photo: ddp)

de Sales said Sal Oppenheim on Wednesday morning with, but would not disclose the purchase price. A few weeks ago had informed people have said Dow Jones Newswires, it expected to price at around a hundred million euros . act

Personnel will be at the head of the derivatives business of Oppenheim also change with the new owner nothing Division Manager Frank Langer retain his post. It brought more change than 90 employees to Macquarie. The transaction is expected in several Phases to be implemented. A closing is up to the beginning of the second Quarter of 2010 sought. Only then is a successive change Macquarie staff to make a smooth transition sure.

With the sale Oppenheim is the future mother German bank a further step forward, after 220 years old private on Tuesday to exchange their management team announced had given. The exchange is in the spirit of the Frankfurt: Wilhelm von Haller was only earlier this month by Deutsche Bank as General Representative arrived and is now taking the lead in Sal Oppenheim.

The spokesman for the personally liable partners, Matthias Graf von Krockow, joined by 24 Back in December 2009. "To Ensure the transition of leadership to new hands "are Christopher Freiherr von Oppenheim, Friedrich Carl Janssen and Dieter Pfundt to 15. January 2010 from the Executive Committee of the Bank and Carl Friedrich Janssen and Dieter Pfundt as personally liable partners . excrete "Baron Oppenheim is connected to continue the Bank’s stay, "said the private bank.

The German Bank AG plans with the purchase of Oppenheim, they are available, costing 1.3 billion and is expected in late March completion next year, his own business with the wealthy clients strengthen. In investment banking, in turn, the German bank in Germany, even without the business of Sal Oppenheim strong enough to set up.

Circles, according to the actual desired solution of Sal was Oppenheim, sell the investment banking as a whole, but what Macquarie apparently had no interest. Now it was necessary for the remaining activities of investment banking at Sal Oppenheim was actively working on a solution. The German bank had indicates a continuation of the concept of investment to fully support. As part of a continuing plan were also examined alternatives, the remaining Investment banking activities into a new ownership structure . convert

Macquarie hopes that with the acquisition of the derivatives business access to the European market for equity derivatives, which so far on Asia was limited. The transaction is Macquarie procure a new Product range, a technology platform and employees with regard the domestic markets. Upon completion of the transaction to the Retail derivatives business under the name Macquarie Oppenheim operate. Oppenheim was previously in the derivatives business as a market maker and Issuer on stock exchanges in Germany, Switzerland, Austria and Italy active.