Sal. Oppenheim
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Headquarters in Cologne
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| Subsidiary | |
| Industry | Private banking, Investment management |
| Founded | Bonn, Germany (1789) |
| Founders | Salomon Oppenheim Jr |
| Headquarters | Cologne, Germany |
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Key people
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Dr. Wolfgang Leoni, Chairman of the Executive Board, Chief Investment Officer |
| AUM | € 45.6 billion (31.12.2014) |
| Owners | Deutsche Bank |
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Number of employees
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500 (2015) |
| Parent | Deutsche Bank |
| Website | www |
Sal. Oppenheim is a German private bank founded in 1789 and headquartered in Cologne, Germany. It offers asset management solutions for wealthy individual clients and institutional investors. The bank became a subsidiary of Deutsche Bank in 2009.
The bank was founded in 1789 in the city of Bonn by seventeen-year-old Salomon Oppenheim, Jr. as a commissions and exchange house. Oppenheim dealt in commodities, the exchanging of foreign currencies, extending credit; and, commercial credit.
In 1798, the business moved to Cologne, then the most important banking location in Germany. In 1828, Salomon Oppenheim, Jr., died, and his wife Therese took over the direction of the bank along with their two sons, Simon and Abraham. Through the marriage of Abraham Oppenheim to Charlotte Beyfus, daughter of Siegmund Leopold Beyfus (1786–1845) and Babette Rothschild (1784–1869), in 1834, the family became closely related to the prominent Rothschild banking family in matters both personal and business-related.
Beginning in the 1820s, Oppenheim financed the navy of the Rhineland and later helped in the growth of the beginnings of the railway system, along with the industrialisation of the Rhineland and the Ruhr.
In 1836, a subsidiary company was founded in Amsterdam that survived until 1856. 1837 saw, for the first-time, the financing of many evolving, large-scale corporations. In 1838, the bank, together with the A. Schaaffhausen'scher Bank Association and the Herstatt Bank, founded the Colonia-Insurance Company. After the death of Therese Oppenheim in 1842, the company continued under the leadership of her two remaining sons. In 1853, the bank founded the Darmstädter Bank and, in 1870, was involved in the mortgage bank Eurohypo AG.
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Wikipedia