COMMERCIAL BANKS GUIDE - Key Persons

Sal. Oppenheim Jr. & Cie stands for one of Europe's leading independent banking groups. Privately owned and run as a family business (for seven successive generations), the body is currently headquartered in Luxembourg. The group manages staff of 4,000 employees, operating an extensive network of branches and offices at different locations in Germany and Europe. Baron Georg von Ullmann is the acting Chairman of the Supervisory Board. Throughout its 219-year history, the group has witnessed many political and economical changes. The bank's origins can be traced back to 1789, when young Salomon Oppenheim Jr. opened a commission and exchange house in Bonn, Germany. Soon afterwards, he decided to relocate his office to the trading center of Cologne, Germany. At the beginning of the 19th century, Sal. Oppenheim became the second largest bank in Cologne. The remaining part of the century was marked by the foundation and the co-establishment of several companies in various industries. Among the most prominent were: Rhine Railway; Colonia Cologne Fire Insurance; Crédit Mobilier, Europe's first major incorporated bank, founded in Paris; International Bank of Luxembourg; Cologne Accident Insurance Company, etc. The 20th century was characterized by further joint enterprises, together with several acquisition campaigns and mergers. In 1936, Sal. Oppenheim acquired the Cologne bank A. Levy. The joint venture Auto Union followed in 1947 (later renamed to Audi AG). In1968, Sal. Oppenheim acquired the Frankfurt bank Kirchholtes & Co. Two years later, the bank merged with various insurance companies, forming the Colonia Insurance Company, which is Germany's second largest insurance company. Years of international expansion followed and the first bank, a joint venture between Sal. Oppenheim and Pierson, Heldring & Pierson bank, was opened in Luxembourg. A major event in the body's history is the 2007 acquisition of the Frankfurt BHF-Bank AG which turned Sal. Oppenheim into Europe's largest independent private bank. The same year witnessed the establishment of Sal. Oppenheim Jr. & Cie. S.C.A. in Luxembourg, which is the group's parent company.