Edmond de Rothschild to set up merchant banking unit in London
Private banking group Edmond de Rothschild is establishing a merchant banking business in London which is set to begin operations this spring, the Financial Times reported on Monday.
The company is currently in the process of hiring a team of senior advisers for the London operation, the financial daily said on its website, citing people close to the situation.
The unit – which was given the nod by the Financial Services Authority last month – would be led by former Hawkpoint Chief Executive Richard Briance and would not directly compete with NM Rothschild, the paper said.
However, the unit – which would be called Edmond de Rothschild Private Merchant Banking – would be looking at ways to work with Lord Jacob Rothschild’s RIT Capital Partners (RCP.L), the Financial Times said.
RIT and Edmond de Rothschild last year launched a joint venture to boost their fund management and investment operations.
Edmond de Rothschild could not immediately be reached for comment outside regular businesshours.
Edmond de Rothschild is part of the Rothschild banking dynasty which has worked on some epochal deals during its history, including helping finance Britain’s war against French military leader Napoleon.
Banque Privée Edmond de Rothschild S.A. is a private bank headquartered in Geneva, Switzerland. It is exclusively dedicated to wealth management for private and institutional clients. It is a part of Edmond de Rothschild Group. It is listed on the Swiss Exchange .
The bank was originally founded in 1923 under the name of Banque Privée. Mid-1960s, it was bought by Edmond Adolphe de Rothschild and incorporated in the LCF Rothschild Group (now Edmond de Rothschild Group). After the death ofEdmond Adolphe de Rothschild in 1997, his son Benjamin de Rothschild took over the management of both Banque Privée Edmond de Rothschild and Edmond de Rothschild Group.
Benjamin de Rothschild (born 30 July 1963) is a Swiss banker, the chairman of the Edmond de Rothschild Group, a private bank established by his father and owned by the family. He was born in Neuilly-sur-Seine in France, the only child of the Baron Edmond Adolphe de Rothschild, a banker, and Nadine Lhopitalier (1932-), an actress. He marriedAriane de Rothschild (née Langner) on 23 January 1999 and they have four children. He is a descendant of the (non-winemaking) French branch of the Rothschild family.
here come the rothschilds..another bunch back into the UK scene..just as it gets downgraded..timing..