Luxembourg-based private bank Sal. Oppenheim is reorganising its business and investment activities.

In future, the industry holdings will be managed in a newly formed, independent holding structure that is not affiliated to the bank. Financing will be assumed in full by the family shareholders and take place independently of the €200 million (about $255million) capital increase for Sal. Oppenheim that was effected last year.

The industry holding and banking activities will have the same shareholder structure. Matthias, Count von Krockow, spokesman for Sal Oppenheim’s personally liable partners, said: “By taking this step, the owners will enable the Sal Oppenheim group to return to its banking roots and focus its attention on the integrated asset management and investment banking business model.”

The investment portfolio will initially contain the bank’s current holdings in the listed companies Arcandor and IVG Immobilien. Also to be integrated in the holding company is the newly formed Sal Oppenheim Private Equity Partners, which resulted from the merger of the majority shareholdings in CAM Private Equity and VCM Capital Management at the beginning of the year to form a fund of funds manager with more then €5 billion in assets under management.