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Note: The acquisition of Sal Oppenheim accelerates Deutsche Bank's ambitious private banking growth strategy. Peter Lee reports.
Private Banking and Wealth Management Survey 2010
The old order changes
Press release
Features
Credit Suisse reaches the summit of private banking
Private banking: Oswald Grubel claims the tide is turning for UBS
JPMorgan takes the top spot (Ultra-high net worth)
Asian private banking: Clients return to risk cautiously
Latin American private banking: Advisers sceptical of highs
France's private banks widen their nets
Deutsche lays out big ambitions
The Survey
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BARRING ANY UNFORESEEN late regulatory intervention, Deutsche Bank will complete the acquisition of Sal Oppenheim Group at the end of March and rise to the top of the rankings by customer assets of private wealth managers in the eurozone.
It has determined to diversify its earnings away from heavy dependence on its global markets and investment banking operations. Building up private banking is a key part of that and Deutsche is particularly ambitious to grow in three key areas: in onshore private banking; in serving ultra-high-net-worth clients; and in the world's fastest-growing growth economies, notably in Asia.
Is the acquisition of Sal Oppenheim's private wealth management and asset management divisions the game-changing deal?
"It is certainly very important, especially in Germany, Austria and Luxembourg," says Pierre de Weck, a member of the group executive committee of Deutsche Bank and head of...