Financial Results

Rothschild Private Wealth, Asset Management Thanks Merger For Revenue Rise

Josh O'Neill, Assistant Editor, 16 June 2017

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Rothschild group has published its financial results for the 2016/2017 financial year.

Rothschild Private Wealth and Asset Management increased its revenues 7 per cent year-on-year to €405 million ($451.4 million), “mainly due” to its merger with Compagnie Financière Martin Maurel, the group said in its full-year financial results statement. 

Revenues at the unit increased €26 million over the 2016/2017 financial year, €24 million of which was contributed by CFMM, the Marseille-headquartered private bank, Rothschild said.

The merger was completed in January. 

Assets under management swelled 33 per cent to €66.6 billion in the 12 months to March 2017, propelled by an addition of €10 billion from CFMM, net inflows of €1.2 billion and market appreciation and exchange rate effects of €5.2 billion.

Net new assets were driven by inflows of €0.3 billion in wealth management and €0.9 billion in asset management, particularly in the US, Rothschild said. 

“In an unpredictable and challenging economic environment, our Private Wealth and Asset Management business showed steady growth, increasing both revenues and assets under management,” said Nigel Higgins and Oliver Pécoux, managing partners of Rothschild & Co. “The demand for our objective and top quality advice remains high across all markets. In France, the merger with Martin Maurel is progressing rapidly and contributed positively to our results for the last quarter.”

Meanwhile, the Rothschild group's overall revenues were up 11 per cent, reaching €1.767 billion. 

Rothschild's global advisory business had a record performance, as revenues rose 14 per cent to €1.19 billion, driven by both M&A advisory and financing advisory, up 15 per cent and 14 per cent, respectively, year-on-year. 

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