German private bank Sal Oppenheim, since July headquartered in Luxembourg, is planning to expand its private client business into the new EU member states. It will establish representative offices in Warsaw and Budapest, a company spokesman has told Thomson Financial. The bank plans to set up an office in Warsaw in early 2008 and Budapest could follow either later in the year or in 2009, according to the report, which adds that Sal Oppenheim already has clients in both countries, but with no separate representative offices. The offices will be run by Sal Oppenheim's Austrian unit and are to focus on private wealth management.