Via a Luxembourg subsidiary, the Cologne based private bank Sal. Oppenheim jr. & Cie. KGaA, is set to acquire an additional stake of approximately 10 percent in the French asset management company Financière Atlas S.A. from the companys management. BHFBANK in Frankfurt already holds 80 percent of the company. The remaining shares will be retained by the management of Financière Atlas.
Matthias Graf von Krockow, spokesman for Sal. Oppenheims personally liable partners, explained: With our additional direct interest in Financière Atlas, we are further expanding our asset management capabilities in Europe, and gaining direct access to the key French market.
The two-fold, long-term integration within the Sal. Oppenheim Group opens up new business potential for Financière Atlas: We are glad to have also convinced Sal. Oppenheim, as the new owner of BHF-Bank, of our successful business model, and foresee additional momentum for our business development from this even closer cooperation, said François de La Baume, CEO of Financière Atlas on the subject.
Financière Atlas was founded in 1988 and the majority acquired three years later by BHF-BANK. The company positions itself as an asset manager focusing on institutional clients. It has an excellent reputation, for instance, as a speciality manager for geographical and topical niches, and in the area of alternative fund of funds management. Financière Atlas has an excellent position in the French financial world thanks to its close cooperation with insurance companies, pension funds, pension schemes, companies, banks and financial intermediaries. It has assets totalling around 1.1 billion under management and administration.
Source: Sal. Oppenheim