The bank Sal. Oppenheim jr & Cie. Luxembourg S.A., which manages around €24 billion in customer assets, yesterday announced the appointment of Carsten Brodt as the new CEO of the management board, succeeding Alfons Klein.

The new CEO was appointed following Klein's resignation for early retirement after spending 29 years with the Deutsche Bank Group. Alfons Klein held the position for five years.

Carsten Brodt joined the Deustche Bank Group in 1990 as a trained banker with a degree in business administration. He has since held a number of varied management positions, primarily in the areas of organisation, operations, administration and project management.

Before his appointment to the management board, Brodt was responsible for fund administration and securities management at Deutsche Asset & Wealth Management in Germand and Luxembourg. After that, he was in charge of implementing a portfolio management and transaction platform for the back office.

"Carsten Brodt has successfully implemented new business models and management systems," commented Holger Naumann, Chief Operating Officer Active Asset Management of Deutsche Asset Wealth Management and supervisory board member at Sal. Oppenheim jr & Cie. Luxembourg. "In doing so, he has taken on tremendous responsibility and demonstrated great skill. Thanks to his experience, he will be a source of new input and momentum for managing Sal. Oppenheim jr & Cie, Luxembourg S.A. in Luxembourg".

Naumann thanked Alfons Klein for the work and achievements he dedicated to Deutsche Bank during his 29 years of experience there and wished him all the best for the next chapter of his life.