Jürgen Fiedler is set to leave the management board of Sal Oppenheim, a wealth management division of Deutsche Bank, at the end of the month to re-join the parent company’s New York base.

Fiedler previously worked directly for German’s biggest bank before he joined Sal Oppenheim 18 months ago, which was acquired by Deutsche Bank in March last year. In his new role, he will become chief credit officer for the Americas with responsibility for risk management, a similar position as he held at Sal Oppenheim.

Fiedler will not be replaced as his task of restructuring the finances at Sal Oppenheim is considered to be completed. During the past year and a half, Fiedler has reduced 60 per cent of risks from the firm’s balance sheet, a spokesperson for the company said.

As a result, the firm has gone from the brink of collapse after the global financial crisis, when it was a full-service bank, to having a positive impact on Deutsche Bank’s results in the first half of 2011, the spokesperson said.  

Fiedler’s responsibility will mainly be taken over by Wilhelm von Haller, who joined the company as chief executive in December 2009, also from Deutsche Bank.