Sal Oppenheim Says 2 Local Branch Heads Have Left Bank
Two of Sal. Oppenheim's 10 heads of local branches have left the Luxembourg-based private bank prior to its announced takeover by Deutsche Bank , a spokesman for Sal. Oppenheim said Sunday, confirming a report in German weekly WirtschaftsWoche.
"Their respective decisions were taken quite some time ago, and we have found very good internal replacements for both positions," the spokesman said.
He added that employee churn remains low at Sal. Oppenheim, which has around 200 customer support employees in Germany in wealth management.
According to an advance copy of a report to be published Monday in WirtschaftsWoche, talks on the planned sale of Sal. Oppenheim's investment banking business to Australia's Macquarie Group Ltd. (MQG.AU) could still falter, despite being at an advanced stage. The magazine says both sides haven't yet agreed how many employees of the unit Macquarie will take over.
The spokesman for Sal. Oppenheim declined to comment on this information.
Deutsche Bank declined to comment on the report.
Magazine Web site: www.wiwo.de
-By Klaus Brune, Dow Jones Newswires; +49-69-29725-500; klaus.brune@dowjones.com
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