Sal. Oppenheim

Sal. Oppenheim is a German private bank founded in 1789 and headquartered in Cologne, Germany. It offers asset management solutions for wealthy individual clients and institutional investors. The bank became a subsidiary of Deutsche Bank in 2009.HistoryFoundingThe bank was founded in 1789 in the city of Bonn by seventeen-year-old Salomon Oppenheim, Jr. as a commissions and exchange house. Oppenheim dealt in commodities, the exchanging of foreign currencies, extending credit; and, commercial credit.In 1798, the business moved to Cologne, then the most important banking location in Germany. In 1828, Salomon Oppenheim, Jr., died, and his wife Therese took over the direction of the bank along with their two sons, Simon and Abraham. Through the marriage of Abraham Oppenheim to, daughter of (1786–1845) and Babette Rothschild (1784–1869), in 1834, the family became closely related to the prominent Rothschild banking family in matters both personal and business-related.Financing of industrialisation of the RuhrBeginning in the 1820s, Oppenheim financed the navy of the Rhineland and later helped in the growth of the beginnings of the railway system, along with the industrialisation of the Rhineland and the Ruhr.