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Sal. Oppenheim jr. & Cie. S.C.A. held its own during the first six months of 2008 in a difficult and highly volatile environment, however it was not completely immune to negative market development. As at 30 June 2008, Europe’s largest independent private banking group posted pre-tax income of € 53 million, thus remaining behind the record result from the first six months of 2007 (€ 195 million). Assets under management totalled around € 150 billion as at 30 June 2008, remaining stable year-on-year. Matthias Graf von Krockow, spokesman for the personally liable partners of Sal. Oppenheim jr. & Cie. S.C.A., indicated his satisfaction with this result given the current market situation, “Our focus is not on short-term profit but long-term preservation of assets. In line with our low-risk...
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