Hauck & Aufhäuser acquires Luxembourg-based Sal. Oppenheim asset servicing business from Deutsche Bank

Frankfurt, December 22, 2016 – Deutsche Bank has taken the decision to sell its two Luxembourg-based Sal. Oppenheim companies, Sal. Oppenheim jr. & Cie. Luxembourg S.A. and Oppenheim Asset Management Services S.à r.l., to Hauck & Aufhäuser.

Over recent years, both Luxembourg Oppenheim companies have specialized in supporting third party portfolio managers under the brand “Deutsche Fund Platforms” and have consistently expanded the business internationally. As a fund platform that focuses on supporting external managers, it offers services relating to structure, administration, custodian activity and distribution of Luxembourg fund solutions. This business has been very successful over recent years. In Hauck & Aufhäuser, Sal. Oppenheim has found a strong, well-established new owner which is committed to continuing this success and further growing and strengthening the business.

The combination of Sal. Oppenheim’s Luxembourg platform business with Hauck & Aufhäuser’s fund activities brings together the strengths of both businesses. The result is an effective, service-focused unit that allows the synergies and core competencies of both houses to be combined. Highly sophisticated services along the entire value-chain can now be offered to asset managers and institutional clients alike.