M and A
Edmond De Rothschild Buys UK Family Office Minority Stake
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Among other changes, the transaction will help Edmond de Rothschild serve international clients who see London as an important financial centre after the UK's departure from the European Union.
Edmond de
Rothschild Group has bought a 42.5 per cent stake in the
London-based family office, Hottinger Group,
with which it has already partnered. The transaction will help
the combined groups to navigate a market changed by Brexit, among
other forces.
Hottinger Group – founded in 1981 – will continue to be led by
the existing executive team and the European wealth management
house will continue to operate its asset management activities in
the UK, including in its specialisms in infrastructure debt and
real estate.
When the transaction is completed Hottinger Group will serve more
than 200 wealthy families from around the world, the statement
this week from Edmond de Rothschild said.
“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,” François Pauly , chief executive of
the Edmond de Rothschild Group François, said.
Edmond de Rothschild had SFr168 billion in assets under
management at the end of December 2020, 2,500 employees and 33
locations worldwide.
In the case of Hottinger, the origins of this brand in financial
services date back to 1786, when Baron Jean Conrad Hottinguer
established Banque Hottinguer & Cie in Paris. In 2015, the family
decided to sell a majority stake in their London-based business
and the new owners chose to retain the name for the group. This
news service has
interviewed the group about the Hottinger Art business.