Hauck & Aufhäuser significantly expands in Luxembourg with acquisition of Sal. Oppenheim fund platform
Under its new owner, leading Chinese investment firm Fosun, Hauck & Aufhäuser significantly extends its market presence in Luxembourg by acquiring the Sal. Oppenheim asset servicing business from Deutsche Bank.
Commenting on the acquisition of Sal. Oppenheim jr. & Cie Luxembourg and Oppenheim Asset Management Services, Michael Bentlage, in charge of Asset Servicing on the board of Hauck & Aufhäuser says: “Acquiring Sal. Oppenheim’s successful Luxembourg fund platform business is an expansion of our asset servicing activities. Our market presence will be much stronger as a consequence and we will be in a position to provide our clients with even broader services. This is an important element in continuing to drive our growth strategy under our new owners Fosun.”
As a result of the deal, Hauck & Aufhäuser will nearly double in size in Luxembourg. Following the acquisition, Deutsche Bank will also continue to use Oppenheim’s Luxembourg fund platform services for parts of their own fund range.
As Europe’s leading investment fund centre allowing funds to be distributed in around 70 markets worldwide, Luxembourg today acts as the centre of excellence and primary international fund distribution platform for the world’s leading asset managers.