Rothschild launching London merchant banking business

Edmond de Rothschild, the Geneva-based private banking group, is launching a London-based merchant banking business,

the

Financial Times

reported.

The group is chaired by sixth-generation member Baron Benjamin de Rothschild, son of the late Edmond.

The group already has an asset management business in London, as well as a fixed income business, an investment trust advisory unit focusing on emerging markets, and a corporate finance unit, the

FT

report noted.

The new London merchant bank will focus on entrepreneurs and wealthy families and thus will not overlap with N.M. Rothschild, a corporate finance advisory group that is a venture of the Paris branch of the family, the

FT

article said. That group is run by David and Eric de Rothschild.

However, Edmond de Rothschild owns a stake of just below8 per cent in the Parisian group’s main vehicle Paris Orléaans and it has a cross-shareholding with David de Rothschild’s Zurich-based entity.

(Source:

Financial Times,

Nov. 18, 2013.)