Deutsche Bank has integrated the quantitative investment capabilities of the Cologne-based lender Sal Oppenheim’s as it moves to absorb the whole investment firm.
Sal Oppenheim’s asset management activities are already part of Deutsche AM for reporting purposes, but moving the quant arm aims at giving the company greater systematic strength, which implies the transfer of Sal Oppenheim’s asset management employees into a new Deutsche Asset Management International GmbH branch Cologne.
Deutsche Bank stressed the move should not entail any change for Sal Oppenheim’s AM clients, as it is aimed to make a better use of the global growth potential of the quantitative investment capabilities.
By its part, the private wealth management division of Sal Oppenheim will be integrated into Deutsche’ private and commercial bank in 2018, bringing as final result the dissapearance of the Sal Oppenheim brand. Once it is complete, Sal Oppenheim’s wealth management clients will be transferred to the wealth management unit of Deutsche Bank.
Deutsche Bank’s management board member and head of Deutsche Asset Management Nicolas Moreau, said: “Sal. Oppenheim has long-standing experience with quantitative investment processes as well as individual strategies for institutional clients, and will thus be a benefit to Deutsche Asset Management.”
Deputy CEO of Deutsche Bank Christian Sewing, commented: “The integration creates advantages, as we unite the strengths of both firms and enables us to offer our clients the best possible advice and service.“