Frankfurt based Oddo Seydler Bank is sold by German-French private bank ODDO BHF to Potsdam investment company Obotritia Capital
The transaction is still subject to the approval of the relevant supervisory authorities.
René Parmantier and Holger Gröber will continue to be members of the board of the investment bank, which will continue under the name of Seydler Bank. Parmantier is to participate with up to 25%.
Obotritia Capital, based in Potsdam, was founded in 2014 by entrepreneur Rolf Elgeti, who is also a personally liable partner of the private investment company. Elgeti has been chairman of executive board of Deutsche Industrie Reit since 2017 and, since 2014, has also been the head of Deutsche Konsum Reit. From 2009 to 2014 he was CEO of the real estate group Tag and currently the chairman.
Oddo Seydler Bank currently has 60 employees, an equity of €18m and a balance sheet of €22m. It is a medium-sized investment bank with German roots. The bank is said to be a leader in specialist trading in equities and bonds on the Frankfurt Stock Exchange.
Oddo Seydler Bank has a full banking license since 2007. Among the new owners, additional corporate finance services and the distribution of shares and pensions are to be included in the offer.