Rothschild & Co’s private wealth division has strengthened its German presence by launching a new office in Düsseldorf.

The new branch will be led by Friedrich Rogge, who will work alongside head of private wealth in Germany Reinhard Krafft.

Rogge will take up the new responsibility on 1 October 2018. He will be assisted by a five-member team, who will join from private bank Sal. Oppenheim.

Rothschild co-head of wealth management and trust Laurent Gagnebin said: “Under Reinhard Krafft’s leadership our wealth management business in Germany has developed very positively. We’ve strengthened our positioning in the German market and have extended our offering, especially for business-owning families.

“I’m convinced that the new team will be an excellent addition that will help us to continue this growth.”

Rogge most recently headed the Düsseldorf branch of Sal. Oppenheim, a role he held for 17 years.

His wealth and asset management career of over three decades also includes a stint at Deutsche Bank.

He joined Deutsche Bank in 1980, where he worked in several roles such as heading the advisory unit for HNWIs.

Commenting on the new move, Krafft said: “We now have an opportunity to expand our business from the Rhineland to East Westphalia, an area that’s particularly attractive for Rothschild & Co’s offering thanks to the large number of middle market family businesses located there.

“Friedrich Rogge and his team are an excellent match for us, not only because of their outstanding reputation in wealth management, but also because they share Rothschild & Co’s investment philosophy and commitment to long-term wealth preservation.”