Sal Oppenheim, the Cologne-based private bank, which is part of Deutsche Bank, has announced that Gregor Broschinski will step down from its executive board.

Broschinski, who is a member of the Bankhaus Sal Oppenheim jr, and cie. executive board, will resign from the bank for personal reasons with effect from 31 December this year, to take on a new professional challenge, the firm said in a statement.

Appointed to the firm’s board in 2010, Broschinski - who has 22 years’ experience in the private client business across several German banks - was previously on the executive committee, private wealth management Deutschland at Deutsche Bank.

As a result of Broschinski’s departure, Nicolas Von Loeper, a recognised expert in exclusive asset management, will take on the role as the new executive board member at the start of next year.

Born in Cologne, Von Loeper has nearly twenty years of experience in private client business and private asset management across a number of banks.

Von Loeper, who joined Deutsche Bank AG in 2000 and held a number of managerial posts with the firm, has been responsible for managing private client and securities business as well as large private assets at the Bremen, Düsseldorf and, most recently, Cologne branch offices.

As a member of the management team at Deutsche Bank AG Cologne, he has been head of private wealth management for the Cologne/Bonn/Aachen region since 2009.

Earlier in the month, Switzerland Sal Oppenheim and Deutsche Bank announced plans of a merger, integrating Swiss Sal Oppenheim into Deutsche Bank (Switzerland) by the end of 2013, subject to regulatory approval.