* Sale of investment banking unit nears - sources
* Deal could be struck before the end of October
* Macquarie eager to prevent staff exodus before any deal
(Adds sources saying deal is getting close)
FRANKFURT, Oct 20 (Reuters) - Australia's Macquarie Group is close to clinching Sal. Oppenheim's investment banking arm, adding to a string of acquisitions beyond its Asia-Pacific heartland, sources close to the matter said on Tuesday.
The talks are running parallel to separate negotiations between Sal. Oppenheim and Deutsche Bank, which is primarily eyeing its wealth management business.
Sal. Oppenheim's family owners are selling parts of the business after the bank posted its first post-war loss last year, hurt by the financial crisis and a hit from its stake in insolvent German retailer Arcandor.
A deal to sell the investment bank could be struck as early as the end of the month, one person told Reuters.
Representatives from Macquarie have already met with Sal. Oppenheim's works council, two people familiar with the matter said. Macquarie wants to reassure the investment bank's 450 staff to prevent an exodus before any deal, the sources said.
Macquarie is in exclusive talks with the German bank, which is headquartered in Luxembourg, after Italy's Mediobanca withdrew from the bidding for Sal. Oppenheim's investment banking arm on Oct. 1.
This year Macquarie has already bought various banking and asset management businesses. Constellation Energy and Tristone Capital have added trading and advisory capacity to its energy business. It has also bought Delaware Investments, a U.S. asset manager, and Fox-Pitt Kelton, a transatlantic investment banking boutique specialising in financial institutions.
Deutsche Bank, Sal. Oppenheim, and Macquarie all declined to comment.
Deutsche Bank could initially buy all of Sal. Oppenheim and then split off the investment bank at a later stage, people familiar with Deutsche Bank's thinking have told Reuters.
Deutsche Bank's supervisory board is set to discuss the acquisition a day before the bank's third-quarter earnings report on Oct. 29.
News of talks between Macqarie and Sal. Openheim's labour representatives first appeared in German daily Boersen-Zeitung. (Reporting by Alexander Huebner, writing by Edward Taylor, editing by Will Waterman)