& cie. ag & co. kgaa headquarters in cologne type subsidiary industry private banking investment management founded bonn germany 1789 1789 founders salomon oppenheim jr headquarters cologne germany key people dr. wolfgang leoni chairman of the executive board chief investment officer 1 aum 45.6 billion 31.12.2014 2 owners deutsche bank number of employees 500 2015 3 parent deutsche bank website www.oppenheim.de sal . oppenheim is a german private bank founded in 1789 and headquartered in cologne germany . 4 it offers asset management solutions for wealthy individual clients and institutional investors . 5 the bank became a subsidiary of deutsche bank in 2009 . contents 1 history 1.1 founding 1.2 financing of industrialisation of the ruhr 1.3 becoming a limited partnership 1.4 return of the oppenheims 1.5 transition and sale 2 people associated with the bank 3 see also 4 references 5 external links history edit salomon oppenheim junior founder founding edit 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 de daughter of siegmund leopold beyfus de 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 . financing of industrialisation of the ruhr edit 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 darmst dter bank and in 1870 was involved in the mortgage bank eurohypo ag . while salomon therese simon and abraham oppenheim were believers of judaism albert oppenheim one of salomon s sons converted to catholicism in 1858 and in 1859 eduard oppenheim simon s oldest son was baptised protestant . in 1868 abraham oppenheim was raised to the ranks of the prussian freiherr and belonged to the inner circle of king wilhelm i. becoming a limited partnership edit after the death of abraham and simon in 1880 their sons albert and eduard assumed leadership of the bank . in 1904 the form of the company changed from that of a general partnership to one of a limited partnership that from then on was led by alfred von oppenheim and his cousin emil . in 1912 with the appointment of ferdinand rinkel the bank was led for the first time by someone outside the family . in 1921 he was replaced by otto kaufmann . from 1914 on the bank was involved with nine war loans to germany to help finance the first world war . in 1936 the bank voluntarily aryanised with the addition of robert pferdmenges as partner . likewise in 1936 the bank absorbed the jewish bank of a. levy . in 1938 the bank signed their name to the newspaper campaign of the nazi party as robert pferdmenges & co. . the first private german horse stud farm schlenderhan which was founded by eduard von oppenheim in 1869 was transferred to the ss in 1942 . after the imprisonment of waldemar and friedrich carl von oppenheim in 1944 the bank came to a standstill . return of the oppenheims edit in 1945 the bank started up business again under the name of pferdmenges & co. and in 1947 the name was changed back to sal . oppenheim jr. & cie. with the oppenheims once again becoming shareholders . the bank amongst others helped finance the auto union which later became audi ag . in 1968 the bank absorbed the heinrich kirchholtes & co. bank in frankfurt am main . later expansions took place through subsidiary companies in z rich m nchen paris and london . in the course of german reunification the bank gained the position of advisor to the state on matters of privatisation . in 1989 the bank s interests in the colonia insurance company were bought out and the bank s status there became that of limited partnership on share matters . in 2004 the bank bought out the berliner handels gesellschaft along with its partner the frankfurter bank which originated from the ing bhf bank from the dutch ing konzern that formed under the name bhf bank privat seit 1854 bhf bank private since 1854 . with the transfer of bhf sal . oppenheim has risen to the largest privately owned german bank with m.m.warburg & co out of hamburg being the second and to being the largest european family owned bank . at the end of 2003 the bank employed 1 500 people in twenty locations had nearly us 127 billion in asset management and profits totaling 61 million a year . with the death of alfred freiherr von oppenheim in 2005 the oppenheim family s participation in the bank effectively ended . alfred had partnered it with real estate developer josef esch de who subsequently played a major and sometimes controversial role in the bank s business activities . transition and sale edit in 2007 the bank headquarters moved to luxembourg . on 4 july 2008 a subsidiary oppenheim investment managers limited was sold to merrion capital group limited . in december 2010 the bank was acquired by deutsche bank for the reported sum of 1 billion after it had become exposed to the arcandor bankruptcy . after the completion of the takeover the headquarters was again moved back to cologne germany . people associated with the bank edit bankers from sal . oppenheim often play a prominent role in german political and economic history among others salomon oppenheim junior founder abraham oppenheim partner 1821 1878 simon oppenheim partner 1828 1880 albert von oppenheim partner 1880 1904 robert pferdmenges partner 1929 1953 alfred freiherr von oppenheim partner 1964 1993 matthias graf von krockow partner 1986 2010 karl otto p hl partner 1993 1998 wolfgang leoni chairman of the executive board of the bank 2013 see also edit oppenheim family list of oldest banks references edit curriculum vitae dr. wolfgang leoni assets under management cluster 31.12.2014 locations over 200 years of company history sal . oppenheim manages global low vola fund external links edit official website v t e deutsche bank divisions deutsche bank alex. brown deutsche postbank sal . oppenheim deutsche bank italy historical components alex. brown & sons banca popolare di lecco bankers trust hollandsche bank unie morgan grenfell & co. mortgageit authority control worldcat identities viaf 246490327 lccn n85123600 gnd 2075669 0 retrieved from https en.wikipedia.org w index.php title sal . oppenheim & oldid 733070684 categories deutsche bankbanks of germanycompanies based in colognecompanies established in the 18th centurycompanies established in 17891789 establishments in the holy roman empirehidden categories interlanguage link template link numberwikipedia articles with viaf identifierswikipedia articles with lccn identifierswikipedia articles with gnd identifiers navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated 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