Edmond de Rothschild, an asset management group and investment banking house has purchased a 42.5$ stake in the Hottinger Group, a UK-based family office for an undisclosed sum.
The two companies created this deal as a part of the agreement to combine their wealth operations in the UK “to create deeper value for their private clients.”
After the approval of Financial Conduct Authority (FCA), Edmond de Rothschild will transfer its wealth management arm in London to Hottinger Group.
The existing executive team will continue to lead the operations at the family office, while Edmond de Rothchild will operate its asset management in the UK.
Following the end of the deal, the Hottinger Group will provide its services to more than 200 wealthy families internationally, with its headquarters in London. The firm also has offices in Geneva and Dublin.
“We are delighted to welcome on board a stable, dynastic and knowledgeable shareholder in the form of Edmond de Rothschild Group. Our firms share core values of integrity, innovation and responsibility, which make this an excellent fit,” said Mark Robertson, chief executive of Hottinger Group.
“Hottinger Group will continue to focus on its core offerings of bespoke investment management services, merchant banking services and providing independent and comprehensive family office services for sophisticated and conscientious international clients,” he added.
According to the chief executive of the Edmond de Rothschild Group, François Pauly, “This partnership, with a renowned family office close to our DNA, demonstrates our desire to constantly improve our offering and services in order to better meet the needs of our clients in the UK.”
“It will reinforce our capabilities to serve our international client base who continue to see London as a major financial hub post-Brexit,” he added.
‘Edmond de Rothschild buys 42.5% stake in UK family office‘- Robbie Lawther, International Adviser