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François Pauly, member of the Executive Board and the Board of Directors of the Sal. Oppenheim Group in Germany and Luxembourg respectively is to voluntarily resign his positions and leave Sal. Oppenheim Group as of 15 June 2010. In the past six years, François Pauly contributed significantly to the Group’s success in Luxembourg, first as managing director of Sal. Oppenheim jr. & Cie. (Luxembourg) S.A. and later as General Director of Sal. Oppenheim jr. & Cie. S.C.A. Since December 2009 and January 2010 respectively, he has been a member of the Executive Boards of the newly formed management companies, which have joined the Bank in Germany and Luxembourg as personally liable partners. Wilhelm von Haller commented, “We are sorry that François Pauly is leaving Sal. Oppenheim. In the past few months I have come to appreciate him as an experienced banker and responsible Board colleague. It is also thanks to him that Sal. Oppenheim has come through its change of ownership even stronger, and was able to create meaningful and functional interfaces with Deutsche Bank at the same time. On behalf of the Bank, I would like to thank Mr Pauly for his commitment and service in the past years. We wish him all the best for his future!” After 17 years at Dexia-BIL, where Pauly last served on the Dexia Group Private Banking Executive Committee, he joined Sal. Oppenheim jr. & Cie. (Luxembourg) S.A., where he was appointed as a managing member of the Board of Directors. In July 2007, François Pauly was appointed General Director of the newly formed group parent company Sal. Oppenheim jr. & Cie. S.C.A., Luxembourg. Since December 2009, he has been a member of the Executive Board of Sal. Oppenheim jr. & Cie. Komplementär AG, and since January 2010 a member of the Board of Directors of Sal. Oppenheim jr. & Cie. Komplementär S.A.
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