Global Trading Head Steps Down at Sal Oppenheim

Nick Parmee

22 August 2008

Sal Oppenheim and Siegfried Piel are to part company “by mutual agreement, due to differing business views”, the Luxembourg-based private bank has announced. Mr Piel was global head of trading and derivatives, as well as a member of the executive board.

Dieter Pfundt, partner and member of the board of directors, said: "Siegfried Piel's commitment was a valuable contribution to the successful development of the derivatives and certificate market in Germany and other German-speaking countries."

The bank has said it will announce Mr Piel's successor “in the next few weeks.”