Media
Sal Oppenheim extends contract with Xchanging
25 Jan 2005
Frankfurt/London, 25th January 2005: Xchanging today announced that it has signed a 10 year contract extension with Sal. Oppenheim jr. & Cie., one of the leading private banks in Europe, for the provision of integrated securities processing services.
"This agreement will enable us to build on our Asset Management and Investment Banking business with a service provider that is capable of expanding with us." Said Friedrich Carl Janssen, personally liable partner responsible for the Bank Services at Sal. Oppenheim.
David Andrews, Chief Executive of Xchanging commented: "I am delighted we are able to continue our relationship with Sal. Oppenheim and provide reliable, cost effective securities processing services."
Both organisations believe further consolidation is likely in the Securities Processing market in Germany and scale advantages will come through aggregation of volumes onto fewer processing platforms. "This contract extension is testimony to Xchanging's ability to deliver reliable services", says Andrews. In 2004, Xchanging's securities processing arm (ETB) became the first securities transaction bank to be certified to ISO 9001 for its quality management system.
Xchanging's clients in the banking sector include Deutsche Bank, Citibank Privatkunden AG & Co. KGaA. Privatkunden AG & Co. KGaA, and the Sparda-Banken Group.
For more information:
Xchanging
Contact: David Joseph
Tel: +49 (0)69 910 60748
Fax: +49 (0)69 910 60658
e-mail: djoseph@xchanging.com
VOCATO public relations
Birgit Brabeck
Tel: +49 (0) 22 34 / 60198-18
Fax: +49 (0) 22 34 / 60198-12
e-mail: bbrabeck@vocato.com
Sal. Oppenheim jr. & Cie. KGaA
Unter Sachsenhausen 4
50667 Cologne
Press and PR
Tel.: +49 (0) 221 - 145 - 19 55
E-Mail: presse@oppenheim.de
About Sal Oppenheim
Sal. Oppenheim jr. & Cie. was founded in 1789 and is one of the leading private banks in Europe. As a partnership limited by shares (Kommanditgesellschaft auf Aktien), it has been majority-owned by the founding family for generations. Sal. Oppenheim focuses on asset management and investment banking. At the end of 2004, the bank and its subsidiaries had assets totalling approximately 65 billion euros under the management and advice for clients. The Oppenheim Group currently employs 1,470 staff. At the turn of the year, Sal. Oppenheim jr. & Cie. completed the takeover of BHF-BANK Aktiengesellschaft, with a workforce of 1,800 and assets under management amounting to around 25 billion euros, from the ING Group.
More information: www.oppenheim.com