Edmond de Rothschild Group, a Franco-Swiss private bank and asset manager, plans to issue a cease-and-desist order to French financial adviser Rothschild & Cie,
the
Financial Times
reported.
Both firms were founded by descendants of the 200-year old banking dynasty.
The Swiss group claims the parent company of the French business refers to itself as “parent of the Rothschild group.” The Swiss branch contends this unfairly implies that the French branch has the sole right to the name, the article said.
The expected legal move “reflects an escalation of hostilities between the two sides of the family, and represents one of the first acts of Ariane de Rothschild, who took over as chief executive of Edmond de Rothschild at the end of January, the report said.
Nearly three years ago, Baron David de Rothschild united Rothschild & Cie of France and NM Rothschild of the U.K. “But there remain offshoots of the Rothschild dynasty outside of the unified group, the largest of which is Edmond de Rothschild Group, which itself owns almost 8 percent of Paris-Orléans,” the
FT
article said. (Source:
Financial Times
, March 27, 2015.)
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