Swiss private bank Edmond de Rothschild to delist
Swiss private bank Edmond de Rothschild has announced plans to delist and restructure in a move to consolidate the group.
The family buyout comes after a settlement was agreed last year among Rothschild cousins over the use of the historic family name for commercial matters, forcing two warring companies to simplify their complex and intertwined structures.
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The private bank and asset manager, which is owned by the Benjamin de Rothschild family, has more than 170bn swiss francs (£128.36bn) in assets under management.
Ariane de Rothschild, the wife of Benjamin, has been appointed chairwoman in the restructure, and Vincent Taupin has become chief executive with Cynthia Tobiano as his deputy.
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"By taking it private, we are demonstrating our commitment to our banking Group and our ambitions for growth, both organic and through acquisitions. I congratulate my wife and our teams for what has been accomplished in recent years” Benjamin de Rothschild said.