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Deutsche Reportedly Aims To Integrate Sal Oppenheim Into Asset Management Arm Pre-Spinoff
Before spinning off the asset management arm, the German lender intends to integrate its wealth business under the Sal Oppenheim brand into this unit. Sal Oppenheim was bought about seven years ago.
Deutsche Bank,
Germany’s largest bank, plans to integrate parts of the Sal
Oppenheim subsidiary wealth management business, bought about
seven years ago, into its asset management division before that
unit is spun off, Handeslblatt, reported, citing an
unnamed source.
The German publication reported that 40 to 50 staff from Sal
Oppenheim’s institutional client business would switch to
Deutsche Asset Management.
The Frankfurt-listed lender declined to comment.
Reuters has reported, also citing unnamed sources, that
Deutsche Bank has asked banks to pitch for work on an initial
public offering of its asset management business that could raise
around €2 billion ($2.4 billion).
