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13 February 2012

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Sal.Oppenheim, Austrians said eyeing fund arm of bailed out Constantial private bank

Cologne-based private bank Sal. Oppenheim is among a number of institutions, mainly Austrian banks, which are bidding to buy Constantia Privatbank, the Austrian private bank bailed out last year, according to a report in the daily newspaper Die Presse. Sal. Oppenheim's Austrian head Bernhard Ramsauer said the bank is interested in Constantia's investment fund arm, which has e12.3bn under management, but not in its banking and custodian business. Raiffeisen Zentralbank's Kathrein Bank and Capital Bank, a unit of Austrian insurer Grawe, are also considering the tender of Constantia, the newspaper said.

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