Oppenheim in JV to Create Swiss Family Office

Christopher Owen

30 October 2007

The Oppenheim banking family of Germany has formed a joint venture operation with the Swiss-based Landert Group to provide global investment advice and family office services in Switzerland. The joint venture will operate under the name Oppenheim Landert Family Office and is 41 per cent-owned by the Oppenheim family on a persoanl basis, with a further 10 per cent held by the Bank Sal Oppenheim Switzerland and the balance by the Landert Group. The new company will work with both the existing customers of Landert Group, as well as new mandates. Christopher Freiherr von Oppenheim, a partner of Sal Oppenheim, is chairman of the board, with Dr Christian Camenzind, chairman of Bank Sal Oppenheim Switzerland also sitting as a board member together with Dr Gerhard Landert, who will serve as chief investment officer of the new company. "The Family Office is an integral part of our overall asset management," says Mr von Oppenheim. "We are very pleased that we are now working together with the Landert Group to complete our range of services in Switzerland and expand our international family office network." In addition to Oppenheim Asset Management in Germany, the Sal Oppenheim Group is also positioned as a family office provider in Luxembourg through Service Généraux de Gestion, and in Hong Kong through an office opened this summer. Sal Oppenheim, headquartered in Luxembourg, is the largest independent private banking group in Europe with assets under managment of €150 billion ($216 billion) and equity of more than €2 billion. The Landert Group was founded in 1977 and is based in Zollikon in the Swiss canton of Zürich. It contains three firms offering investment research, consultancy and asset management services that are responsible, or jointly responsible for assets of several billion Swiss francs.