Bankhaus Lampe, the Bielefeld- and Düsseldorf-headquartered owner-managed private bank, sees the departure of personally liable partner and veteran banker Dr Karl-Heinz Franke.

Dr Franke, who became a personally liable partner at Bankhaus Lampe in 1978, will retire at the end of the month after 33 years at the firm.

He is being replaced by Ulrich Cosse, who joined the firm as a personally liable partner on 1 January 2009. Since then, Dr Franke has been transferring more and more responsibilities to his successor, the firm told WealthBriefing.

Cosse has more than 30 years of experience in the banking industry and before joining Bankhaus Lampe he worked for Bankhaus Neelmeyer in Bremen, a German state.

Bankhaus Lampe has around €3.7 billion (about $4.7 billion) in assets under management and is represented in several German cities as well as Vienna.