International

Zurich-based Bank Sal. Oppenheim jr. & Cie. (Schweiz) AG focuses on asset management for private clients and investment banking for institutional clients. The branch office in Geneva offers asset management services only. The Swiss asset manager offers its discerning domestic and international clientele a comprehensive and customised range of support and advisory services. Investment banking focuses on research, as well as on sales of Swiss and German equities and structured products. With its sister company Sal. Oppenheim jr. & Cie. Corporate Finance (Schweiz) AG, formed a year ago, advisory business for M&A, real estate and other capital market transactions is also being significantly strengthened and expanded. After successfully expanding its investment banking business in 2006, Sal. Oppenheim has now also entered the top bracket in Switzerland, and is the leading foreign investment bank in the country.

Business performance 2006

The Private Banking division once again showed very positive development in 2006. Both the 20% increase in client assets under management (7% of which related to a net inflow of funds), and the increase in active advisory services contributed to a rise in commission income, and, as a result, to this success. Sales of structured products in Switzerland also played their part in the success story, and are now being marketed in Italy, too. Our Oppenheim Swiss Opportunity fund achieved a very strong performance of 27% in 2006, and received a 5-star rating from Morning Star for the three-year period.

The bank's net income rose by a very pleasing 23% to CHF 28.7 million. Total assets amounted to CHF 788.9 million at the end of the year.

The positive business development seen in 2006 was also reflected in the significant increase in staff numbers, the greatest in the history of the Swiss bank: the bank employed a workforce of 158 as at the end of 2006, a year-on-year increase of 40%.

Outlook for 2007

Sal. Oppenheim jr. & Cie. (Schweiz) AG plans to continue its successful strategy in 2007, and to further expand and tap into international markets in Latin America, Greece and Turkey, in particular. The advisory business relating to capital market transactions, IPOs and capital increases is to be expanded further in cooperation with sister company Sal. Oppenheim jr. & Cie. Corporate Finance (Schweiz) AG.

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