Gutmann, Austria’s largest private banking and wealth management bank will open office in Bucharest early 2010, most likely at the end of January, said linca von Derenthall, future country manager for Romania.

“So far we have been active in the Romanian market through passporting, but in the following week most likely, we will receive all the authorizations we need, and at the end of January – early February, we will open our office in Bucharest. We will provide advisory services to clients, but wealth management services will be provided from our headquarters in Austria” said linca von Derenthall, at the EU-COFILE seminar organized by NBR, ARB and Alpha Bank.

Gutmann has an international customer base of 2,000 and €10 billion under custody.

“It would be ok if we managed to attract 20-50 clients in Romania in the first year. We focus on few clients to whom we can provide highly customized services. We already have a few Romanian clients in Austria”, linca von Derenthall added.

The bank provides fund management and advisory services for high-income natural persons, fund and institutions.