Oppenheim bosses head for the exit

City A.M. Reporter
TOP management at stricken wealth manager Sal Oppenheim were last night understood to be preparing to step down, sources, said putting new owner Deutsche Bank in the driver’s seat faster than expected.

With regulators casting a critical eye on Sal Oppenheim’s losses and the bank’s loans to top executives, the bank’s four senior managers are poised to exit by early next year, several sources said yesterday.

Count Matthias von Krockow, one of the owners and a personally liable partner at Sal Oppenheim, is to resign this week, the sources said.

Other partners Friedrich Carl Janssen, Baron Christopher von Oppenheim and Dieter Pfundt would follow early next year, they said.

“The new leadership has already been determined,” one insider said: Deutsche Bank executive Wilhelm von Haller would take over running the Luxembourg-based bank.

Australian group Macquarie is thought to be about to agree to take over the derivative business of the collapsed Luxembourgish private bank.