Edmond de Rothschild Group

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Edmond de Rothschild Group
FormerlyCompagnie Financière Edmond de Rothschild
IndustryFinancial services
Founded1953
FounderEdmond de Rothschild
HeadquartersGeneva, Switzerland
Area served
Worldwide
Key people
Ariane de Rothschild (President)
(CEO)
AUMIncrease 168 billion CHF (2020)[1]
Number of employees
2,700 (2020)
Websitewww.edmond-de-rothschild.com

The Edmond de Rothschild Group is a financial institution specialized in private banking and asset management. Based in Geneva, the group is family-owned and independent, and encompasses the Edmond de Rothschild Foundations (philanthropic arm), the lifestyle brand Edmond de Rothschild Heritage (fine wine and cheese, luxury hotels and restaurants), and sponsors the Gitana Team (professional sailing team).

The group was founded in Paris in 1953 by Edmond de Rothschild as La Compagnie Financière (LCF) Edmond de Rothschild. After opening branches in Geneva and Luxembourg, the LCF launched the first fund of funds in 1969. In 1997, Benjamin and Ariane de Rothschild took over the governance of the company, which was reorganized and renamed Edmond de Rothschild Group in 2010.

In 2020, the group had 2,700 employees, 32 offices in 15 countries, and managed CHF 168 billion worth of assets. Ariane de Rothschild has been President of the board since April 2019,[2] and CEO since June 2021.[3]

History[]

1953-1997: Edmond de Rothschild era[]

See also: Edmond Adolphe de Rothschild

In 1953, Edmond de Rothschild founded La Compagnie Financière (LCF) Edmond de Rothschild in Paris. He launched the Geneva-based private banking practice Banque Privée Edmond de Rothschild in 1965 and the branch in Luxembourg three years later.[4]

In 1969, LCF Edmond de Rothschild introduced a new investment model, the fund of funds (FOF) management.[5] In 1970, LCF Edmond de Rothschild was delivered a French banking licence.[6] In 1973, LCF Edmond de Rothschild bought the Bank of California, and sold it back to Mitsubishi Bank in 1985 for thrice its acquisition price.[7] In 1973, Edmond de Rothschild purchased the vineyard Château Clarke, appellation Listrac-Médoc, the first wine of the Edmond de Rothschild Heritage collection.[8] In 1982, when David de Rothschild launched Paris-Orléans Gestion (Rothschild & Co), LCF Edmond de Rothschild took a 10% stake in the new structure.[7]

In 1989, Benjamin de Rothschild, son of Edmond de Rothschild, founded the Compagnie de Trésorerie to offer advanced financial risk management services.[4] In 1992, LCF Edmond de Rothschild managed assets worth $2 billion,[7] and opened an office in Hong Kong.[9]

Since 1997: Benjamin and Ariane de Rothschild era[]

See also: Benjamin de Rothschild and Ariane de Rothschild

Following the death of his father in 1997, Benjamin de Rothschild became the president of La Compagnie Financière Edmond de Rothschild.[7][10]

In 1999, in Canada, in association with the Banque Laurentienne, LCF created the financial company BLC—Edmond de Rothschild Gestion d'Actifs Inc., which eventually led to the creation of B2B Banque.[11] In 2001, LCF launched its first online banking website.[12] In 2002, LCF launched the private equity structure Capital Partners.[13] In 2006, LCF and Nikko Cordial Securities launched LCF Edmond de Rothschild Nikko Cordial, the first fully-fledged family office in Japan.[14] In March 2008, LCF Edmond de Rothschild became the first foreign bank in China to own a share of a Chinese mutual fund manager when it bought 15% of Zhonghai Fund Management,[15] and increased its participation to 25% in 2011.[16] From 2000 to 2010, LCF Edmond de Rothschild opened 7 regional offices in France.[17]

In 2009, Ariane de Rothschild became the vice-president of LCF Edmond-de-Rothschild.[4] In 2010, La Compagnie Financière Edmond de Rothschild (LCF) changed its name to Edmond de Rothschild Group.[18] In 2011, the group joined the UNEP FI program.[19]

In 2011, the group opened an office in Dubai to develop its activities in the Middle East[20] and became a member of the United Nations Global Compact.[21] In 2013, it announced its plan to open a new office in London.[22] In June 2014, the group raised a $530 million fund targeting investments in Africa.[23] In 2014, All of the company's financial and non-financial assets were reorganized within the group's structure.[24]

In 2015, Ariane de Rothschild became CEO of the Edmond de Rothschild Group.[25] As the first woman to run a Rothschild-branded financial institution,[26] she was nominated to give the company a new impetus.[27] In 2015, the group published a sustainability report for the first time[28] and launched the Fund Big Data.[29] In 2017, the Luxembourg authorities fined $10.1 million the local arm of Edmond de Rothschild for its handling of funds linked to Malaysian investment fund 1MDB.[30] In February 2018, Edmond de Rothschild raised a €345 million fund dedicated to the biotech and medical devices industry.[31] In March 2019, the company removed Edmond de Rothschild (Switzerland) S.A. from public trading, making it 100% privately held. Ariane de Rothschild became chairman of the board, and Vincent Taupin was named CEO of the group. The French business entities were folded into the Swiss company to simplify the group's organigram.[2]

In May 2019, the Edmond de Rothschild Group launched an AI-powered fund targeting the real estate market.[32] In June 2019, the group raised €375 million for its fourth Africa-focused fund.[33] The company's share was delisted from the Zurich stock exchange on 22 October 2019.[34] In February 2020, the group made its first investment in the Baltics by backing the parking lot operator Parkdema.[35] In October 2020, Sergey Bogdanchikov filed a $100 million lawsuit against Bank Edmond de Rothschild in New York.[36] In 2021, the group launched a $250-million foodtech fund with PeakBridge VC,[37] and the Fund-Human Capital focused on companies with the best employee management practices.[38] François Pauly was named CEO of the group in June 2021.[3] Edmond de Rothschild announced their investment into the U.K. wealth management business Hottinger Group on 26 October 2021. The transaction, subject to the UK regulator's consent, would see the clients and staff of the Bank's U.K. wealth management division transfer to Hottinger. Connected to this transaction, Edmond de Rothschild acquired a 42.5% stake in Hottinger Group. [39]

Description[]

The Edmond de Rothschild Group is a conviction-driven investment house. In 2020, the Group had 2,700 employees, 32 offices in 15 countries and 3 international management centers (Geneva, Luxembourg, Paris). The Group managed CHF 168 billion worth of assets and recorded a solvency ratio of 20.8%.[40] The Edmond de Rothschild Group provides the following services:

Other activities[]

Foundation (philanthropy)[]

See also: Edmond de Rothschild Foundation

The Edmond de Rothschild Foundations follow the philanthropic tradition of the Rothschild family. The entity is an international network of 10 foundations active in the fields of art and culture, health and research, philanthropy, cultural dialogue and social entrepreneurship.[41]

is the CEO of the Foundations since 2005.[42]

Heritage (lifestyle)[]

See also: Edmond de Rothschild Heritage

The lifestyle assets managed by the Edmond de Rothschild Group are gathered under the label Edmond de Rothschild Heritage. Those assets include:[43]

Gitana Team (sailing)[]

Gitana 16

The sailing tradition of the family dates back to 1879 when the baroness Julie Caroline de Rothschild passed the 20-knot milestone with her motorboat Getana, followed by 26-knot record with the Gitana II 25 years later. In the 1960s, baron Edmond de Rothschild launched the Gitana III, a monohull sailboat. The Gitana IV won the 1965 Fastnet Race.[45]

In 2000, Benjamin de Rothschild purchased the 62-foot-long (19 m) Elf Aquitaine and founded the professional sailing team Gitana Team. The Gitana VII won the Route du Rhum 2006.[45] On 17 July 2017, the 32×23-meter Maxi Edmond de Rothschild (Gitana 17) was introduced, the offshore racing's first maxi-multihull designed to fly in the open ocean.[46][47]

Governance[]

Presidents[]

Executive committee[]

  • François Pauly (CEO)[3]
  • Cynthia Tobiano (Deputy CEO)
  • Christophe Caspar (Head of Group's Asset Management)
  • Sabine Rabald (COO)
  • Jean-Christophe Pernollet (Chief Risk Officer / Chief Legal & Compliance Officer)
  • Diego Gaspari (Head of Human Resources)
  • Robert Jenkins (Chief Brand and Marketing Officer)
  • Pierre-Etienne Durand (Head of Strategy)

See also[]

References[]

  1. ^ "Annual Report 2019" (PDF). Edmond De Rothschild (Suisse) S.A. Retrieved 29 March 2021.
  2. ^ a b Torsoli, Albertina; Winters, Patrick (13 March 2019). "Rothschild Baroness Plots Swiss Private Bank Expansion After Bid". Bloomberg.com. Retrieved 6 February 2020.
  3. ^ a b c Kirakosian, Margaryta (7 June 2021). "Edmond de Rothschild group names new CEO". citywireselector.com. Archived from the original on 7 June 2021. Retrieved 10 October 2021.
  4. ^ a b c "The Business ‹ Group Edmond de Rothschild ‹ Group Edmond de Rothschild :: The Rothschild Archive". www.rothschildarchive.org. Retrieved 6 February 2020.[permanent dead link]
  5. ^ "Banque Privée Edmond de Rothschild". thehedgefundjournal.com. Retrieved 6 February 2020.
  6. ^ Fay, Sophie (5 November 1999). "Edmond de Rothschild la passion de la banque" (PDF). Le Monde (in French). Retrieved 6 February 2020.
  7. ^ a b c d Prial, Frank J. (4 November 1997). "Baron Edmond de Rothschild, 71, French Financier, Dies". The New York Times. ISSN 0362-4331. Retrieved 6 February 2020.
  8. ^ "Baron Edmond de Rothschild wine: When the name is the story". eTurboNews | Trends | Travel News. 12 May 2018. Retrieved 6 February 2020.
  9. ^ "Edmond de Rothschild to close Hong Kong branch". South China Morning Post. 9 December 2016. Retrieved 6 February 2020.
  10. ^ Services, Tribune News. "FRENCH BANKER EDMOND DE ROTHSCHILD, 71". chicagotribune.com. Retrieved 6 February 2020.
  11. ^ "La Banque Laurentienne aujourd'hui". Histoire du Quebec (in French). Retrieved 6 February 2020.
  12. ^ 01net. "Gérer sa fortune en ligne avec E-Rothschild". 01net (in French). Retrieved 6 February 2020.
  13. ^ Paris, Guy Paisner in. "LCF Rothschild moves into private equity". www.fnlondon.com. Retrieved 6 February 2020.
  14. ^ "Press Release | SMBC Nikko Securities Inc". www.smbcnikko.co.jp. Retrieved 6 February 2020.
  15. ^ "France's Edmond de Rothschild to buy China fund stake". Reuters. 11 March 2008. Retrieved 6 February 2020.
  16. ^ "LCF Edmond de Rothschild se renforce dans l'empire du Milieu". La Tribune (in French). Retrieved 6 February 2020.
  17. ^ "La province, relais de croissance pour LCF Edmond de Rothschild". Les Echos (in French). 28 September 2010. Retrieved 6 February 2020.
  18. ^ "Changement de nom et nouveau blason". edmond-de-rothschild.com (in French). Retrieved 6 February 2020.
  19. ^ "Edmond de Rothschild (Suisse) S.A – United Nations Environment – Finance Initiative". Retrieved 6 February 2020.
  20. ^ "Rothschild targets Middle East". www.investmenteurope.net. 18 October 2011. Retrieved 6 February 2020.
  21. ^ "CSR / Sustainability Report Announcement | ReportAlert.info". reportalert.info. Retrieved 7 September 2020.
  22. ^ Schäfer, Daniel (17 November 2013). "Edmond de Rothschild to open London merchant bank". Financial Times. Retrieved 6 February 2020.
  23. ^ "Rothschild fund raises $530 million to invest in Africa: FT". Reuters. 29 June 2014. Retrieved 6 February 2020.
  24. ^ "Annual report" (PDF). Edmond-de-Rothschild.com. 2014. Archived from the original (PDF) on 20 December 2019. Retrieved 6 February 2020.
  25. ^ Bray, Chad (14 January 2015). "Edmond de Rothschild Group Names Chairman's Wife as C.E.O." DealBook. Retrieved 6 February 2020.
  26. ^ Agnew, Harriet (15 March 2019). "Ariane de Rothschild challenges Swiss conservatism". Financial Times. Retrieved 6 February 2020.
  27. ^ Agnew, Harriet (13 March 2019). "Edmond de Rothschild to take its Swiss bank private". Financial Times. Retrieved 6 February 2020.
  28. ^ Performance, Ethical. "Edmond de Rothschild Group Publishes First Sustainability Report". www.3blmedia.com. Retrieved 6 February 2020.
  29. ^ "Edmond de Rothschild: un fonds franchit la barre d'un milliard d'euros sous gestion". Allnews (in French). 6 January 2022. Retrieved 16 January 2022.
  30. ^ Reuters Staff (22 June 2017). "Private bank Rothschild fined in 1MDB case: source". Reuters – via www.reuters.com.
  31. ^ "De Rothschild raises €345M Europe-skewed life science fund". FierceBiotech. Retrieved 6 February 2020.
  32. ^ Burke, Tim. "Edmond de Rothschild turns to AI in property investment". www.fnlondon.com. Retrieved 6 February 2020.
  33. ^ Mendoza, Carmela (9 June 2019). "Edmond de Rothschild closes fourth Africa fund above target – exclusive". Private Equity International. Retrieved 6 February 2020.
  34. ^ "Edmond de Rothschild Retreats". finews.com. 19 August 2019. Retrieved 6 February 2020.
  35. ^ staff2020-02-05T01:01:00+00:00, I. P. E. "Edmond de Rothschild invests in Baltics parking lot operator Parkdema". Real Assets. Retrieved 7 September 2020.
  36. ^ "Edmond De Rothschild Hit With $100 Million Fraud Suit By Ex-Rosneft Boss". 20 October 2020.
  37. ^ Kreutzer, Laura (2 December 2021). "Edmond de Rothschild sets up food-tech investment partnership". Private Equity News. Retrieved 21 December 2021.{{cite web}}: CS1 maint: url-status (link)
  38. ^ Kirakosian, Margaryta (5 May 2021). "Edmond de Rothschild unveils 'Human Capital' fund". citywireselector.com. Archived from the original on 5 May 2021. Retrieved 10 October 2021.
  39. ^ "Edmond de Rothschild Partners U.K. Wealth arm".
  40. ^ "Group | Edmond de Rothschild". www.edmond-de-rothschild.com. Retrieved 6 February 2020.
  41. ^ "How We Work". www.edmondderothschildfoundations.org. Retrieved 6 February 2020.
  42. ^ "Vidéo. " Nous voulons promouvoir une philanthropie autre qu'occidentale "". Le Monde.fr (in French). Retrieved 6 February 2020.
  43. ^ Consigny, Chloé (26 June 2018). "Edmond de Rothschild, une holding très lifestyle - Good Boost". The Good Life (in French). Retrieved 6 February 2020.
  44. ^ Torsoli, Albertina (11 October 2017). "Edmond de Rothschild Invests $119 Million in French Alps Hotel". Bloomberg.com. Retrieved 6 February 2020.
  45. ^ a b [dead link]TEAM, GITANA. "The Legend - Gitana : Offshore racing stable created by Baron Benjamin de Rothschild". www.gitana-team.com. Archived from the original on 20 September 2020. Retrieved 6 February 2020.
  46. ^ [dead link]TEAM, GITANA. "Maxi Edmond de Rothschild - Gitana : Offshore racing stable created by Baron Benjamin de Rothschild". www.gitana-team.com. Archived from the original on 27 September 2019. Retrieved 6 February 2020.
  47. ^ [dead link]["Gitana unveils Maxi Edmond De Rothschild - News - Asia-Pacific Boating". www.asia-pacificboating.com. Archived from the original on 6 February 2020. Retrieved 6 February 2020.

External links[]

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