Compagnie Financiere Edmond de Rothschild, the Paris- based private banking and asset management unit of the Edmond de Rothschild Group, increased assets under management by 11 per cent to €37.6 billion ($50.6 billion) in 2010, according to a Bloomberg report of a press conference.

Private banking assets were up 11 per cent to €12.6 billion, thanks to €900 million of net inflows, the bank is reported to have said in a statement. The asset management businesses Edmond de Rothschild Asset Management and Edmond de Rothschild Investment Managers had combined net inflows of €1.5 billion.

“The private bank has had yet another very good year,” chief executive officer Michel Cicurel said. Earnings were “higher than in 2008 but not as high as in 2007,” he said, declining to give more details on last year’s earnings.