The wealth management institution will, with the new office coming into action in 2024, have three in Europe's largest economy.

Rothschild & Co’s Wealth Management business is continuing its growth trajectory in Germany with an office opening in Hamburg in spring 2024, the firm said yesterday.

The move takes the firm’s office location count to three, with others in Frankfurt and Düsseldorf. Dirk Wehmhöner (pictured) who, together with his team, has built up a rapidly growing client base in northern Germany over the past two years, will take over the management of the office. 

With the new office in Hamburg’s city centre, the team will offer northern German clients greater local proximity and flexibility for strategic advice and discretionary portfolio management, the business said in a statement.

"With the opening of our third office in Hamburg, we are continuing our consistent growth course in the German market. With their excellent network and many years of expertise in advising clients, Dirk Wehmhöner and his team provide the ideal starting point for the targeted expansion of our business in northern Germany," Henrik Herr, managing director of Rothschild & Co’s wealth management business in Germany, said.

In the first half of 2024, two more client advisors will join Rothschild & Co’s wealth management team based in Hamburg. One of these is Philip Wegener, who will start at the beginning of the year after working most recently for BNP Paribas and, prior to that, Deutsche Bank and Auretas. When the office officially opens in spring 2024, the Hamburg team will consist of five client advisors. According to the rapport, further recruitment is planned over the course of the year.

This news service has recently examined the German family offices industry, talking to banks and others about the dynamics shaping that market. See articles here and here.
 

Hamburg scene