Sal. Oppenheim
2009
$1.3B
Why
To acquire Europe's largest privately owned banking house, instantly gaining a dominant position in the ultra-high-net-worth wealth management market and access to the wealthiest families in Germany and Europe.
Impact
The acquisition significantly expanded the Private Bank's assets under management and provided a prestigious brand name that appealed to the most affluent European clients, diversifying the bank's fee-based revenue streams.
Outcome
Successfully integrated into the Private Wealth Management division, providing a stable, high-margin annuity stream that has become increasingly critical to the bank's overall profitability and return on equity.