German private bank Hauck & Aufhäuser has hired ten bankers from recently-disbanded private bank Sal Oppenheim, building on the investment banking business it started with the takeover of JP Morgan Cazenove’s Frankfurt operation in 2008.

Wolfram Schmerl, who was managing director and head of Sal Oppenheim's financial sponsors team, and a team of nine mergers and acquisitions and corporate finance professionals, will join Hauck & Aufhäuser immediately, managing partner Alexander Klemm confirmed.