Edmond de Rothschild Group: Difference between revisions

From Wikipedia, the free encyclopedia
Content deleted Content added
Tags: Mobile edit Mobile web edit Advanced mobile edit
No edit summary
 
(26 intermediate revisions by 15 users not shown)
Line 1: Line 1:
{{Short description|Swiss financial services company}}
{{Short description|Swiss financial services company}}
{{Use dmy dates|date=August 2021}}
{{Use dmy dates|date=August 2021}}
{{About|the financial institution in Switzerland|other Rothschild-branded banks|Rothschild Bank (disambiguation)}}
{{Infobox company
{{Infobox company
| name = Edmond de Rothschild Group
| name = Edmond de Rothschild Group
| logo = Edmond de Rothschild Group.png
| logo = Edmond de Rothschild Group.png
| founded = 1953
| founded = {{start date and age|1953}}
| founder = [[Edmond Adolphe de Rothschild|Edmond de Rothschild]]
| founder = [[Edmond Adolphe de Rothschild|Edmond de Rothschild]]
| area_served = Worldwide
| area_served = Worldwide
| key_people = [[Ariane de Rothschild]] <small>(President)</small><br/>[[François Pauly]] <small>(CEO)</small>
| key_people = [[Ariane de Rothschild]] <small>(CEO)</small><br />[[Cynthia Tobiano]] <small>(Deputy CEO)</small>
| former_name = Compagnie Financière Edmond de Rothschild
| former_name = Compagnie Financière Edmond de Rothschild
| industry = [[Financial services]]
| industry = [[Financial services]]
| aum = {{profit}} 158 billion CHF (2022)
| aum = {{profit}} 168 billion CHF (2020)<ref name=2019AnnualReport>{{cite web|url=https://www.edmond-de-rothschild.com/SiteCollectionDocuments/private-banking/macro%20highlights/Annual%20Report%202019.pdf |publisher=Edmond De Rothschild (Suisse) S.A. |title=Annual Report 2019|access-date=29 March 2021}}</ref>
| assets =
| assets =
| owner =
| owner =
| num_employees = 2,700 (2020)
| num_employees = 2,500 (2022)
| subsid =
| subsid =
| homepage = {{url|https://www.edmond-de-rothschild.com}}
| homepage = {{url|https://www.edmond-de-rothschild.com|Edmond-de-rothschild.com}}
| location = [[Geneva]], Switzerland
| location = [[Geneva]], Switzerland
}}
}}
Line 23: Line 24:
The group was founded in Paris in 1953 by [[Edmond Adolphe de Rothschild|Edmond de Rothschild]] as La Compagnie Financière (LCF) Edmond de Rothschild. After opening branches in Geneva and Luxembourg, the LCF launched the first [[fund of funds]] in 1969. In 1997, [[Benjamin de Rothschild|Benjamin]] and [[Ariane de Rothschild]] took over the governance of the company, which was reorganized and renamed Edmond de Rothschild Group in 2010.
The group was founded in Paris in 1953 by [[Edmond Adolphe de Rothschild|Edmond de Rothschild]] as La Compagnie Financière (LCF) Edmond de Rothschild. After opening branches in Geneva and Luxembourg, the LCF launched the first [[fund of funds]] in 1969. In 1997, [[Benjamin de Rothschild|Benjamin]] and [[Ariane de Rothschild]] took over the governance of the company, which was reorganized and renamed Edmond de Rothschild Group in 2010.


In 2022, the business managed assets of CHF 158 billion, had 2,500 employees, and had 29 sites across 14 countries.<ref name="wealthbriefing results23">{{cite web |url=https://www.wealthbriefing.com/html/article.php?id=197315 |title=Gross Income Rises At Edmond De Rothschild; Logs Net Inflows |website=Wealthbriefing.com |date=15 March 2023 |access-date=26 March 2023 }}</ref> [[Ariane de Rothschild]] has been CEO of the group and Cynthia Tobiano Deputy CEO since March 2023.<ref name="finews scepter">{{cite web |author=Claude Baumann |url=https://www.finews.com/news/english-news/56235-edmond-de-rothschild-baroness-ariane-francois-pauly-ceo |title=Baroness Ariane Takes the Scepter at Edmond de Rothschild |website=Finews.com |date=15 March 2023 |access-date=26 March 2023 }}</ref>
In 2020, the group had 2,700 employees, 32 offices in 15 countries, and managed CHF 168 billion worth of assets. [[Ariane de Rothschild]] has been President of the board since April 2019,<ref name=":3" /> and [[François Pauly]] CEO since June 2021.<ref name=":5" />


== History ==
== History ==
Line 31: Line 32:
In 1953, [[Edmond Adolphe de Rothschild|Edmond de Rothschild]] founded La Compagnie Financière (LCF) Edmond de Rothschild in [[Paris]]. He launched the [[Geneva]]-based private banking practice Banque Privée Edmond de Rothschild in 1965 and the branch in [[Luxembourg]] three years later.<ref name=":1">{{Cite web|url=https://www.rothschildarchive.org/business/group_edmond_de_rothschild/|archive-url=https://web.archive.org/web/20170626153209/https://www.rothschildarchive.org/business/group_edmond_de_rothschild/|url-status=dead|archive-date=26 June 2017|title=The Business ‹ Group Edmond de Rothschild ‹ Group Edmond de Rothschild :: The Rothschild Archive|website=www.rothschildarchive.org|access-date=6 February 2020}}</ref>
In 1953, [[Edmond Adolphe de Rothschild|Edmond de Rothschild]] founded La Compagnie Financière (LCF) Edmond de Rothschild in [[Paris]]. He launched the [[Geneva]]-based private banking practice Banque Privée Edmond de Rothschild in 1965 and the branch in [[Luxembourg]] three years later.<ref name=":1">{{Cite web|url=https://www.rothschildarchive.org/business/group_edmond_de_rothschild/|archive-url=https://web.archive.org/web/20170626153209/https://www.rothschildarchive.org/business/group_edmond_de_rothschild/|url-status=dead|archive-date=26 June 2017|title=The Business ‹ Group Edmond de Rothschild ‹ Group Edmond de Rothschild :: The Rothschild Archive|website=www.rothschildarchive.org|access-date=6 February 2020}}</ref>


In 1969, LCF Edmond de Rothschild introduced a new investment model, the [[fund of funds]] (FOF) management.<ref>{{Cite web|url=https://thehedgefundjournal.com/banque-privee-edmond-de-rothschild/|title=Banque Privée Edmond de Rothschild|website=thehedgefundjournal.com|language=en-GB|access-date=6 February 2020}}</ref> In 1970, LCF Edmond de Rothschild was delivered a French [[Banking license|banking licence]].<ref>{{Cite news|url=https://scholar.lib.vt.edu/InterNews/LeMonde/issues/1997/lm971105.pdf|title=Edmond de Rothschild la passion de la banque|last=Fay|first=Sophie|date=5 November 1999|work=Le Monde|access-date=6 February 2020|language=fr}}</ref> In 1973, LCF Edmond de Rothschild bought the [[Bank of California]], and sold it back to [[Mitsubishi Bank]] in 1985 for thrice its acquisition price.<ref name=":0">{{Cite news|url=https://www.nytimes.com/1997/11/04/business/baron-edmond-de-rothschild-71-french-financier-dies.html|title=Baron Edmond de Rothschild, 71, French Financier, Dies|last=Prial|first=Frank J.|date=4 November 1997|work=The New York Times|access-date=6 February 2020|language=en-US|issn=0362-4331}}</ref> In 1973, Edmond de Rothschild purchased the vineyard [[Château Clarke]], appellation [[Listrac-Médoc]], the first wine of the Edmond de Rothschild Heritage collection.<ref>{{Cite web|url=https://www.eturbonews.com/185137/baron-edmond-de-rothschild-wine-when-the-name-is-the-story/|title=Baron Edmond de Rothschild wine: When the name is the story|date=12 May 2018|website=eTurboNews {{!}} Trends {{!}} Travel News|language=en-US|access-date=6 February 2020}}</ref> In 1982, when [[David René de Rothschild|David de Rothschild]] launched Paris-Orléans Gestion ([[Rothschild & Co]]), LCF Edmond de Rothschild took a 10% stake in the new structure.<ref name=":0"/>
In 1969, LCF Edmond de Rothschild introduced a new investment model, the [[fund of funds]] (FOF) management.<ref>{{Cite web |last=McIntosh |first=Bill |date=April 2009 |title=Banque Privée Edmond de Rothschild |url=https://thehedgefundjournal.com/banque-privee-edmond-de-rothschild/ |access-date=6 February 2020 |website=thehedgefundjournal.com |language=en-GB}}</ref> In 1970, LCF Edmond de Rothschild was delivered a French [[Banking license|banking licence]].<ref>{{Cite news|url=https://scholar.lib.vt.edu/InterNews/LeMonde/issues/1997/lm971105.pdf|title=Edmond de Rothschild la passion de la banque|last=Fay|first=Sophie|date=5 November 1999|work=Le Monde|access-date=6 February 2020|language=fr}}</ref> In 1973, LCF Edmond de Rothschild bought the [[Bank of California]], and sold it back to the [[Mitsubishi Bank]] in 1985 for thrice its acquisition price.<ref name=":0">{{Cite news|url=https://www.nytimes.com/1997/11/04/business/baron-edmond-de-rothschild-71-french-financier-dies.html|title=Baron Edmond de Rothschild, 71, French Financier, Dies|last=Prial|first=Frank J.|date=4 November 1997|work=The New York Times|access-date=6 February 2020|language=en-US|issn=0362-4331}}</ref> In 1973, Edmond de Rothschild purchased the vineyard [[Château Clarke]], appellation [[Listrac-Médoc]], the first wine of the Edmond de Rothschild Heritage collection.<ref>{{Cite web |last=Garely |first=Elinor |date=12 May 2018 |title=Baron Edmond de Rothschild wine: When the name is the story |url=https://eturbonews.com/baron-edmond-de-rothschild-wine-when-the-name-is-the-story/ |access-date=6 February 2020 |website=Eturbonews.com |language=en-US}}</ref> In 1982, when [[David René de Rothschild|David de Rothschild]] launched Paris-Orléans Gestion ([[Rothschild & Co]]), LCF Edmond de Rothschild took a 10% stake in the new structure.<ref name=":0"/>


In 1989, [[Benjamin de Rothschild]], son of Edmond de Rothschild, founded the Compagnie de Trésorerie to offer advanced financial risk management services.<ref name=":1"/> In 1992, LCF Edmond de Rothschild managed assets worth $2 billion,<ref name=":0"/> and opened an office in [[Hong Kong]].<ref>{{Cite web|url=https://www.scmp.com/business/banking-finance/article/2053312/edmond-de-rothschild-close-hong-kong-branch-amid-troubled|title=Edmond de Rothschild to close Hong Kong branch|date=9 December 2016|website=South China Morning Post|language=en|access-date=6 February 2020}}</ref>
In 1989, [[Benjamin de Rothschild]], son of Edmond de Rothschild, founded the Compagnie de Trésorerie to offer advanced financial risk management services.<ref name=":1"/> In 1992, LCF Edmond de Rothschild managed assets worth $2 billion,<ref name=":0"/> and opened an office in [[Hong Kong]].<ref>{{Cite web |last=John |first=Alun |date=9 December 2016 |title=Edmond de Rothschild to close Hong Kong branch amid troubled times for private banks |url=https://www.scmp.com/business/banking-finance/article/2053312/edmond-de-rothschild-close-hong-kong-branch-amid-troubled |access-date=6 February 2020 |website=South China Morning Post |language=en}}</ref>


=== Since 1997: Benjamin and Ariane de Rothschild era ===
=== 1997-2021: Benjamin and Ariane de Rothschild era ===
{{See also|Benjamin de Rothschild|Ariane de Rothschild}}
{{See also|Benjamin de Rothschild|Ariane de Rothschild}}
Following the death of his father in 1997, Benjamin de Rothschild became the president of La Compagnie Financière Edmond de Rothschild.<ref name=":0"/><ref>{{Cite web |date=4 November 1997 |title=French Banker Edmond de Rothschild, 71 |url=https://www.chicagotribune.com/news/ct-xpm-1997-11-04-9711040478-story.html |access-date=6 February 2020 |website=Chicagotribune.com |language=en-US}}</ref> In 1999, in Canada, in association with the Banque Laurentienne, LCF created the financial company [[BLC Bank|BLC]]—Edmond de Rothschild Gestion d'Actifs Inc., which eventually led to the creation of B2B Banque.<ref>{{Cite web |title=La Banque Laurentienne aujourd'hui |url=https://histoire-du-quebec.ca/banque-laurentienne-aujourdhui |access-date=6 February 2020 |website=Histoire du Québec |language=fr}}</ref> In 2001, LCF launched its first [[online banking]] website.<ref>{{Cite web |last= |date=21 September 2001 |title=Gérer sa fortune en ligne avec E-Rothschild |url=https://www.01net.com/actualites/gerer-sa-fortune-en-ligne-avec-e-rothschild-161074.html |access-date=6 February 2020 |website=01net.com |language=fr}}</ref> In 2002, LCF launched the private equity structure Capital Partners.<ref>{{Cite web |last=Paisner |first=Guy |date=15 July 2002 |title=LCF Rothschild moves into private equity |url=https://www.fnlondon.com/articles/lcf-rothschild-moves-into-private-equity-20020715 |access-date=6 February 2020 |website=Fnlondon.com |language=en-GB}}</ref> In 2005, Benjamin and Ariane de Rothschild launched the [[Edmond de Rothschild Foundations]] to unify and optimize the group's philanthropic operations.<ref>{{Cite news |title=Nous voulons promouvoir une philanthropie autre qu’occidentale |language=fr-FR |work=Le Monde |url=https://www.lemonde.fr/afrique/video/2017/11/14/nous-voulons-promouvoir-une-philanthropie-autre-qu-occidentale_5214660_3212.html |access-date=2023-01-22}}</ref> In 2006, LCF and [[Nikko Cordial Securities]] launched LCF Edmond de Rothschild Nikko Cordial, the first fully-fledged [[family office]] in Japan.<ref>{{Cite web |date=14 February 2006 |title=Establishment of a new company - Presenting Japan's first genuine Family Office Services |url=https://www.smbcnikko.co.jp/en/news/2006/n_060214e.html |access-date=6 February 2020 |website=Smbcnikko.co.jp}}</ref> In March 2008, LCF Edmond de Rothschild became the first foreign bank in China to own a share of a Chinese mutual fund manager when it bought 15% of Zhonghai Fund Management,<ref>{{Cite news |last=Chen |first=George |date=11 March 2008 |title=France's Edmond de Rothschild to buy China fund stake |language=en |work=Reuters |url=https://www.reuters.com/article/us-rothschild-china-fund-idUSSHA20931720080311 |access-date=6 February 2020}}</ref> and increased its participation to 25% in 2011.<ref>{{Cite web |last=Serrouya |first=Thierry |date=18 April 2011 |title=LCF Edmond de Rothschild se renforce dans l'empire du Milieu |url=https://www.latribune.fr/marches/20110418trib000616133/lcf-edmond-de-rothschild-se-renforce-dans-l-empire-du-milieu.html |access-date=6 February 2020 |website=La Tribune |language=fr}}</ref> From 2000 to 2010, LCF Edmond de Rothschild opened 7 regional offices in France.<ref>{{Cite web |last=Lechantre |first=Caroline |date=28 September 2010 |title=La province, relais de croissance pour LCF Edmond de Rothschild |url=https://www.lesechos.fr/2010/09/la-province-relais-de-croissance-pour-lcf-edmond-de-rothschild-432140 |access-date=6 February 2020 |website=Les Echos |language=fr}}</ref>
Following the death of his father in 1997, Benjamin de Rothschild became the president of La Compagnie Financière Edmond de Rothschild.<ref name=":0"/><ref>{{Cite web|url=https://www.chicagotribune.com/news/ct-xpm-1997-11-04-9711040478-story.html|title=FRENCH BANKER EDMOND DE ROTHSCHILD, 71|last=Services|first=Tribune News|website=chicagotribune.com|language=en-US|access-date=6 February 2020}}</ref>


In 1999, in Canada, in association with the Banque Laurentienne, LCF created the financial company [[BLC Bank|BLC]]—Edmond de Rothschild Gestion d'Actifs Inc., which eventually led to the creation of B2B Banque.<ref>{{Cite web|url=http://histoire-du-quebec.ca/banque-laurentienne-aujourdhui|title=La Banque Laurentienne aujourd'hui|website=Histoire du Quebec|language=fr|access-date=6 February 2020}}</ref> In 2001, LCF launched its first [[online banking]] website.<ref>{{Cite web|url=https://www.01net.com/actualites/gerer-sa-fortune-en-ligne-avec-e-rothschild-161074.html|title=Gérer sa fortune en ligne avec E-Rothschild|last=01net|website=01net|language=fr|access-date=6 February 2020}}</ref> In 2002, LCF launched the private equity structure Capital Partners.<ref>{{Cite web|url=https://www.fnlondon.com/articles/lcf-rothschild-moves-into-private-equity-20020715|title=LCF Rothschild moves into private equity|last=Paris|first=Guy Paisner in|website=www.fnlondon.com|language=en-GB|access-date=6 February 2020}}</ref> In 2006, LCF and [[Nikko Cordial Securities]] launched LCF Edmond de Rothschild Nikko Cordial, the first fully-fledged [[family office]] in Japan.<ref>{{Cite web|url=https://www.smbcnikko.co.jp/en/news/2006/n_060214e.html|title=Press Release {{!}} SMBC Nikko Securities Inc.|website=www.smbcnikko.co.jp|access-date=6 February 2020}}</ref> In March 2008, LCF Edmond de Rothschild became the first foreign bank in China to own a share of a Chinese mutual fund manager when it bought 15% of Zhonghai Fund Management,<ref>{{Cite news|url=https://www.reuters.com/article/us-rothschild-china-fund-idUSSHA20931720080311|title=France's Edmond de Rothschild to buy China fund stake|date=11 March 2008|work=Reuters|access-date=6 February 2020|language=en}}</ref> and increased its participation to 25% in 2011.<ref>{{Cite web|url=https://www.latribune.fr/marches/20110418trib000616133/lcf-edmond-de-rothschild-se-renforce-dans-l-empire-du-milieu.html|title=LCF Edmond de Rothschild se renforce dans l'empire du Milieu|website=La Tribune|language=fr|access-date=6 February 2020}}</ref> From 2000 to 2010, LCF Edmond de Rothschild opened 7 regional offices in France.<ref>{{Cite web|url=https://www.lesechos.fr/2010/09/la-province-relais-de-croissance-pour-lcf-edmond-de-rothschild-432140|title=La province, relais de croissance pour LCF Edmond de Rothschild|date=28 September 2010|website=Les Echos|language=fr|access-date=6 February 2020}}</ref>
In 2009, [[Ariane de Rothschild]] became the vice-president of LCF Edmond-de-Rothschild.<ref name=":1" /> In 2010, La Compagnie Financière Edmond de Rothschild (LCF) changed its name to Edmond de Rothschild Group.<ref>{{Cite news |date=2014-06-22 |title=Les grandes étapes du groupe |language=fr |work=Le Temps |url=https://www.letemps.ch/economie/grandes-etapes-groupe |access-date=2022-11-13 |issn=1423-3967}}</ref> In 2011, the group joined the [[UNEP FI]] program.<ref>{{Cite web |date=14 June 2011 |title=Edmond de Rothschild (Suisse) S.A – United Nations Environment – Finance Initiative |url=https://www.unepfi.org/member/edmond-de-rothschild-suisse-s-a/ |access-date=6 February 2020 |website=Unepfi.org |language=en-GB}}</ref> In 2011, the group opened an office in [[Dubai]] to develop its activities in the Middle East<ref>{{Cite web |last=Marriage |first=Madison |date=18 October 2011 |title=Rothschild targets Middle East |url=https://www.investmenteurope.net/investmenteurope/news/3712196/rothschild-targets-middle-east |access-date=6 February 2020 |website=Investmenteurope.net |language=en}}</ref> and became a member of the [[United Nations Global Compact]].<ref>{{Cite web |date=29 June 2020 |title=Edmond de Rothschild Achieves 4-year Goals for Sustainable Development |url=https://reportalert.info/report/290021/Edmond-de-Rothschild-Achieves-4-year-Goals-Sustainable-Development |access-date=7 September 2020 |website=Reportalert.info}}</ref> In 2013, it announced its plan to open a new office in [[London]].<ref>{{Cite news|url=https://www.ft.com/content/6a3929b4-4f72-11e3-b06e-00144feabdc0|title=Edmond de Rothschild to open London merchant bank|last=Schäfer|first=Daniel|date=17 November 2013|newspaper=Financial Times|access-date=6 February 2020}}</ref> In 2014, after raising a $530 million fund targeting investments in Africa,<ref>{{Cite news|url=https://www.reuters.com/article/us-rothschild-africafund-idUSKBN0F40XC20140629|title=Rothschild fund raises $530 million to invest in Africa: FT|date=29 June 2014|work=Reuters|access-date=6 February 2020|language=en}}</ref> all of the company's financial and non-financial assets were reorganized within the group's structure.<ref>{{Cite web |date=2 June 2014 |title=Une identité commune pour Edmond de Rothschild |url=https://paperjam.lu/article/news-une-identite-commune-pour-edmond-de-rothschild |access-date=2022-11-13 |website=Paperjam.lu |language=fr}}</ref>


In 2015, Ariane de Rothschild was named CEO of the Edmond de Rothschild Group.<ref>{{Cite web|url=https://dealbook.nytimes.com/2015/01/14/edmond-de-rothschild-group-names-chairmans-wife-as-c-e-o/|title=Edmond de Rothschild Group Names Chairman's Wife as C.E.O.|last=Bray|first=Chad|date=14 January 2015|website=DealBook|language=en|access-date=6 February 2020}}</ref> She was the first woman to run a Rothschild-branded financial institution,<ref>{{Cite news|url=https://www.ft.com/content/dd64793c-4721-11e9-b168-96a37d002cd3|title=Ariane de Rothschild challenges Swiss conservatism|last=Agnew|first=Harriet|date=15 March 2019|newspaper=Financial Times|access-date=6 February 2020}}</ref> and was nominated to give the company a new impetus.<ref>{{Cite news|url=https://www.ft.com/content/4812320a-4566-11e9-b168-96a37d002cd3|title=Edmond de Rothschild to take its Swiss bank private|last=Agnew|first=Harriet|date=13 March 2019|newspaper=Financial Times|access-date=6 February 2020}}</ref> The group published a sustainability report for the first time<ref>{{Cite web |date=23 July 2015 |title=Edmond de Rothschild Group Publishes First Sustainability Report |url=https://www.3blmedia.com/News/Edmond-de-Rothschild-Group-Publishes-First-Sustainability-Report |access-date=6 February 2020 |website=3blmedia.com |language=en}}</ref> and launched the Fund Big Data.<ref>{{Cite web|date=2022-01-06|title=Edmond de Rothschild: un fonds franchit la barre d'un milliard d'euros sous gestion|url=https://www.allnews.ch/content/produits/edmond-de-rothschild-un-fonds-franchit-la-barre-dun-milliard-deuros-sous-gestion|access-date=2022-01-16|website=Allnews|language=fr}}</ref> Under the [[United States Department of Justice Tax Division#Current programs|Swiss Bank Program]], the group signed a non-prosecution agreement with the US Department of Justice regarding undeclared US accounts in Switzerland and paid a $45.24 million penalty.<ref>{{Cite web |date=2015-12-18 |title=Justice Department Announces Joint Resolution with Two Banks Under Swiss Bank Program |url=https://www.justice.gov/opa/pr/justice-department-announces-joint-resolution-two-banks-under-swiss-bank-program |access-date=2022-11-13 |website=www.justice.gov |language=en}}</ref> In 2016, the Société française des hôtels de montagne (SFHM) which gathered the non-financial assets of the group became [[Edmond de Rothschild Heritage]].<ref name=":7">{{Cite web |last=Consigny |first=Chloé |date=26 June 2018 |title=Edmond de Rothschild, une holding très lifestyle - Good Boost |url=https://thegoodlife.thegoodhub.com/2018/06/26/edmond-de-rothschild-une-holding-tres-lifestyle/ |access-date=6 February 2020 |website=The Good Life |language=fr-FR}}</ref> In 2017, the group was fined $10.1 million in the aftermath of the [[1MDB]] affair.<ref>{{Cite news |author= |date=22 June 2017 |title=Private bank Rothschild fined in 1MDB case: source |newspaper=Reuters |url=https://www.reuters.com/article/us-malaysia-scandal-rotschild-idUSKBN19D149}}</ref> In 2018, the group raised a €345 million fund to invest in [[Biotechnology|biotech]] and medical devices.<ref>{{Cite web |last=Taylor |first=Nick Paul |date=7 February 2018 |title=De Rothschild raises €345M Europe-skewed life science fund |url=https://www.fiercebiotech.com/biotech/de-rothschild-raises-eu345m-europe-skewed-life-science-fund |access-date=6 February 2020 |website=FierceBiotech |language=en}}</ref> In March 2019, the company removed Edmond de Rothschild (Switzerland) S.A. from public trading, making it 100% private. Ariane de Rothschild took chairmanship of the board, and Vincent Taupin became CEO. The French business entities were folded into the Swiss holding company to simplify the group's organization.<ref name=":3">{{Cite news|url=https://www.bloomberg.com/news/articles/2019-03-13/benjamin-de-rothschild-s-family-to-take-its-swiss-bank-private|title=Rothschild Baroness Plots Swiss Private Bank Expansion After Bid|last1=Torsoli|first1=Albertina|last2=Winters|first2=Patrick|date=13 March 2019|newspaper=Bloomberg.com|access-date=6 February 2020}}</ref>
In 2009, [[Ariane de Rothschild]] became the vice-president of LCF Edmond-de-Rothschild.<ref name=":1"/> In 2010, La Compagnie Financière Edmond de Rothschild (LCF) changed its name to Edmond de Rothschild Group.<ref>{{Cite web|url=http://www.edmond-de-rothschild.com:80/site/suisse/fr/actualites/Pages/newsarticle.aspx?newsId=176-changement-de-nom-et-nouveau-blason|title=Changement de nom et nouveau blason|website=edmond-de-rothschild.com|language=fr-FR|access-date=6 February 2020}}</ref> In 2011, the group joined the [[UNEP FI]] program.<ref>{{Cite web|url=https://www.unepfi.org/member/edmond-de-rothschild-suisse-s-a/|title=Edmond de Rothschild (Suisse) S.A – United Nations Environment – Finance Initiative|language=en-GB|access-date=6 February 2020}}</ref>


In 2019, the Edmond de Rothschild Group launched an [[Artificial intelligence|AI]]-powered fund to invest in the [[real estate]] market<ref>{{Cite web |last=Burke |first=Tim |date=9 May 2019 |title=Edmond de Rothschild turns to AI in property investment |url=https://www.fnlondon.com/articles/edmond-de-rothschild-turns-to-ai-in-property-investment-20190513 |access-date=6 February 2020 |website=Fnlondon.com |language=en-GB}}</ref> and raised €375 million for its fourth Africa-focused fund.<ref>{{Cite web|url=https://www.privateequityinternational.com/edmond-de-rothschild-closes-fourth-africa-fund-above-target/|title=Edmond de Rothschild closes fourth Africa fund above target – exclusive|last=Mendoza|first=Carmela|date=9 June 2019|website=Private Equity International|language=en-GB|access-date=6 February 2020}}</ref> The company's shares were delisted from the [[SIX Swiss Exchange|Zurich stock exchange]] on 22 October 2019.<ref>{{Cite web |date=19 August 2019 |title=Edmond de Rothschild Retreats |url=https://www.finews.com/news/english-news/37654-edmond-de-rothschild-benjamin-share-price-dividend-geneva-delisting-going-private |access-date=6 February 2020 |website=Finews.com |language=en-gb}}</ref> In 2020, the group made its first investment in the Baltics by investing in the parking lot operator Parkdema<ref>{{Cite web |date=5 February 2020 |title=Edmond de Rothschild invests in Baltics parking lot operator Parkdema |url=https://realassets.ipe.com/news/edmond-de-rothschild-invests-in-baltics-parking-lot-operator-parkdema/10043613.article |access-date=7 September 2020 |website=IPE Real Assets |language=en}}</ref> and [[Sergey Bogdanchikov]] filed a lawsuit against the group for [[fraud]].<ref>{{Cite web|url=https://www.wealthx.com/intelligence-centre/daily-news/2020/edmond-de-rothschild-hit-with-100-million-fraud-suit-by-ex-rosneft-boss/|title=Edmond De Rothschild Hit With $100 Million Fraud Suit By Ex-Rosneft Boss|date=20 October 2020}}</ref>
In 2011, the group opened an office in [[Dubai]] to develop its activities in the Middle East<ref>{{Cite web|url=https://www.investmenteurope.net/investmenteurope/news/3712196/rothschild-targets-middle-east|title=Rothschild targets Middle East|date=18 October 2011|website=www.investmenteurope.net|language=en|access-date=6 February 2020}}</ref> and became a member of the [[United Nations Global Compact]].<ref>{{Cite web|title=CSR / Sustainability Report Announcement {{!}} ReportAlert.info|url=https://reportalert.info/report/290021/Edmond-de-Rothschild-Achieves-4-year-Goals-Sustainable-Development|access-date=7 September 2020|website=reportalert.info}}</ref> In 2013, it announced its plan to open a new office in [[London]].<ref>{{Cite news|url=https://www.ft.com/content/6a3929b4-4f72-11e3-b06e-00144feabdc0|title=Edmond de Rothschild to open London merchant bank|last=Schäfer|first=Daniel|date=17 November 2013|newspaper=Financial Times|access-date=6 February 2020}}</ref> In June 2014, the group raised a $530 million fund targeting investments in Africa.<ref>{{Cite news|url=https://www.reuters.com/article/us-rothschild-africafund-idUSKBN0F40XC20140629|title=Rothschild fund raises $530 million to invest in Africa: FT|date=29 June 2014|work=Reuters|access-date=6 February 2020|language=en}}</ref> In 2014, All of the company's financial and non-financial assets were reorganized within the group's structure.<ref>{{Cite web|url=https://www.edmond-de-rothschild.com/site/Luxembourg/SiteCollectionDocuments/Rapports%20annuels/2014/RA-EN-2014-WEB-FINAL.pdf|title=Annual report|date=2014|website=Edmond-de-Rothschild.com|access-date=6 February 2020|archive-date=20 December 2019|archive-url=https://web.archive.org/web/20191220234715/https://www.edmond-de-rothschild.com/site/Luxembourg/SiteCollectionDocuments/Rapports%2520annuels/2014/RA-EN-2014-WEB-FINAL.pdf|url-status=dead}}</ref>


=== Since 2021: Ariane de Rothschild era ===
In 2015, Ariane de Rothschild was named CEO of the Edmond de Rothschild Group.<ref>{{Cite web|url=https://dealbook.nytimes.com/2015/01/14/edmond-de-rothschild-group-names-chairmans-wife-as-c-e-o/|title=Edmond de Rothschild Group Names Chairman's Wife as C.E.O.|last=Bray|first=Chad|date=14 January 2015|website=DealBook|language=en|access-date=6 February 2020}}</ref> She was the first woman to run a Rothschild-branded financial institution,<ref>{{Cite news|url=https://www.ft.com/content/dd64793c-4721-11e9-b168-96a37d002cd3|title=Ariane de Rothschild challenges Swiss conservatism|last=Agnew|first=Harriet|date=15 March 2019|newspaper=Financial Times|access-date=6 February 2020}}</ref> and was nominated to give the company a new impetus.<ref>{{Cite news|url=https://www.ft.com/content/4812320a-4566-11e9-b168-96a37d002cd3|title=Edmond de Rothschild to take its Swiss bank private|last=Agnew|first=Harriet|date=13 March 2019|newspaper=Financial Times|access-date=6 February 2020}}</ref> Still in 2015, the group published a sustainability report for the first time<ref>{{Cite web|url=https://www.3blmedia.com/News/Edmond-de-Rothschild-Group-Publishes-First-Sustainability-Report|title=Edmond de Rothschild Group Publishes First Sustainability Report|last=Performance|first=Ethical|website=www.3blmedia.com|language=en|access-date=6 February 2020}}</ref> and launched the Fund Big Data.<ref>{{Cite web|date=2022-01-06|title=Edmond de Rothschild: un fonds franchit la barre d'un milliard d'euros sous gestion|url=https://www.allnews.ch/content/produits/edmond-de-rothschild-un-fonds-franchit-la-barre-dun-milliard-deuros-sous-gestion|access-date=2022-01-16|website=Allnews|language=fr}}</ref> That same year, it agreed to a fine of $45.4 million to avoid prosecution for allegedly helping U.S. clients [[Banking in Switzerland#tax evasion|evade taxes]].<ref>https://www.bloomberg.com/news/articles/2021-06-23/rich-russian-sued-rothschild-bank-in-new-york-claiming-fraud-over-oil-fortune</ref> In 2017, the Luxembourg authorities fined the group $10.1 million for its handling of funds in the Malaysian investment fund [[1MDB]].<ref>{{Cite news|url=https://www.reuters.com/article/us-malaysia-scandal-rotschild-idUSKBN19D149|title=Private bank Rothschild fined in 1MDB case: source|author=Reuters Staff|newspaper=Reuters|date=22 June 2017|via=www.reuters.com}}</ref> In February 2018, the group raised a €345 million fund to invest in [[Biotechnology|biotech]] and medical devices.<ref>{{Cite web|url=https://www.fiercebiotech.com/biotech/de-rothschild-raises-eu345m-europe-skewed-life-science-fund|title=De Rothschild raises €345M Europe-skewed life science fund|website=FierceBiotech|language=en|access-date=6 February 2020}}</ref> In March 2019, the company removed Edmond de Rothschild (Switzerland) S.A. from public trading, making it 100% private. Ariane de Rothschild took chairmanship of the board, and Vincent Taupin was named CEO of the group. The French business entities were folded into the Swiss company to simplify the group's organigram.<ref name=":3">{{Cite news|url=https://www.bloomberg.com/news/articles/2019-03-13/benjamin-de-rothschild-s-family-to-take-its-swiss-bank-private|title=Rothschild Baroness Plots Swiss Private Bank Expansion After Bid|last1=Torsoli|first1=Albertina|last2=Winters|first2=Patrick|date=13 March 2019|newspaper=Bloomberg.com|access-date=6 February 2020}}</ref>
In January 2021, Benjamin de Rothschild died of a heart attack.<ref>{{Cite web |date=2021-04-20 |title=Banking heir Benjamin de Rothschild dies at 57 |url=https://apnews.com/article/benjamin-de-rothschild-dead-68483e58a3cff3b6dd143e9b12f81328 |access-date=2022-11-13 |website=AP NEWS |language=en}}</ref> Ariane de Rothschild became the sole majority owner of the Edmond de Rothschild Group, holding the majority of the votes with her four daughters,<ref>{{Cite web |last=Lamster |first=Katharina |title=Ariane de Rothschild: Die Privatbank, die ausschließlich Frauen gehört |url=https://www.private-banking-magazin.de/ariane-de-rothschild-privatbanken/ |access-date=2022-11-13 |website=www.private-banking-magazin.de |language=de}}</ref> and maintained the roadmap of the group's transformation initiated with her husband.<ref>{{Cite web |last=Ruche |first=Sébastien |title=La reconstruction d’Edmond de Rothschild prendra encore trois ans |url=https://www.letemps.ch/economie/finance/reconstruction-dedmond-rothschild-prendra-trois-ans |date=2021-05-18 |access-date=2022-11-13 |website=letemps.ch |language=fr}}</ref>


In May 2019, the Edmond de Rothschild Group launched an [[Artificial intelligence|AI]]-powered fund to invest in the [[real estate]] market.<ref>{{Cite web|url=https://www.fnlondon.com/articles/edmond-de-rothschild-turns-to-ai-in-property-investment-20190513|title=Edmond de Rothschild turns to AI in property investment|last=Burke|first=Tim|website=www.fnlondon.com|language=en-GB|access-date=6 February 2020}}</ref> In June 2019, the group raised €375 million for its fourth Africa-focused fund.<ref>{{Cite web|url=https://www.privateequityinternational.com/edmond-de-rothschild-closes-fourth-africa-fund-above-target/|title=Edmond de Rothschild closes fourth Africa fund above target – exclusive|last=Mendoza|first=Carmela|date=9 June 2019|website=Private Equity International|language=en-GB|access-date=6 February 2020}}</ref> The company's shares were delisted from the [[SIX Swiss Exchange|Zurich stock exchange]] on 22 October 2019.<ref>{{Cite web|url=https://www.finews.com/news/english-news/37654-edmond-de-rothschild-benjamin-share-price-dividend-geneva-delisting-going-private|title=Edmond de Rothschild Retreats|date=19 August 2019|website=finews.com|language=en-gb|access-date=6 February 2020}}</ref> In February 2020, the group made its first investment in the Baltics by backing the parking lot operator Parkdema.<ref>{{Cite web|last=staff2020-02-05T01:01:00+00:00|first=I. P. E.|title=Edmond de Rothschild invests in Baltics parking lot operator Parkdema|url=https://realassets.ipe.com/news/edmond-de-rothschild-invests-in-baltics-parking-lot-operator-parkdema/10043613.article|access-date=7 September 2020|website=Real Assets|language=en}}</ref> In October 2020, [[Sergey Bogdanchikov]] filed a lawsuit against Edmond de Rothschild in [[New York City|New York]].<ref>{{Cite web|url=https://www.wealthx.com/intelligence-centre/daily-news/2020/edmond-de-rothschild-hit-with-100-million-fraud-suit-by-ex-rosneft-boss/|title=Edmond De Rothschild Hit With $100 Million Fraud Suit By Ex-Rosneft Boss|date=20 October 2020}}</ref> In 2021, the group launched a $250-million [[Food technology|foodtech]] fund with PeakBridge VC,<ref>{{Cite web|last=Kreutzer|first=Laura|date=2 December 2021|title=Edmond de Rothschild sets up food-tech investment partnership|url=https://www.penews.com/amp/articles/edmond-de-rothschild-sets-up-food-tech-investment-partnership-20211202|access-date=2021-12-21|website=Private Equity News}}</ref> and the Fund-Human Capital focused on companies with the best employee management practices.<ref>{{Cite web|last=Kirakosian|first=Margaryta|date=5 May 2021|title=Edmond de Rothschild unveils 'Human Capital' fund|url=https://citywireselector.com/news/edmond-de-rothschild-unveils-human-capital-fund/a1503751|url-status=live|access-date=2021-10-10|website=citywireselector.com|archive-url=https://web.archive.org/web/20210505105157/https://citywireselector.com/news/edmond-de-rothschild-unveils-human-capital-fund/a1503751 |archive-date=5 May 2021 }}</ref> François Pauly replaced Vincent Taupin as CEO of the group in June 2021.<ref name=":5" /> Edmond de Rothschild announced their investment into the U.K. wealth management business [[Hottinger & Cie|Hottinger Group]] on 26 October 2021. The transaction, subject to the UK regulator's consent, would see the clients and staff of the Bank's U.K. wealth management division transfer to Hottinger. Connected to this transaction, Edmond de Rothschild acquired a 42.5% stake in Hottinger Group.<ref>{{Cite web|url=https://www.finews.com/news/english-news/48479-edmond-de-rothschild-hottinger-london-wealth-management-asset-management-family-office|title=Edmond de Rothschild Partners U.K. Wealth arm}}</ref>
In 2021, the group launched a $250-million [[Food technology|foodtech]] fund with PeakBridge VC<ref>{{Cite web|last=Kreutzer|first=Laura|date=2 December 2021|title=Edmond de Rothschild sets up food-tech investment partnership|url=https://www.penews.com/amp/articles/edmond-de-rothschild-sets-up-food-tech-investment-partnership-20211202|access-date=2021-12-21|website=Private Equity News}}</ref> and the Fund-Human Capital focused on companies with the best employee management practices.<ref>{{Cite web |last=Kirakosian |first=Margaryta |date=5 May 2021 |title=Edmond de Rothschild unveils 'Human Capital' fund |url=https://citywireselector.com/news/edmond-de-rothschild-unveils-human-capital-fund/a1503751 |url-status=live |archive-url=https://web.archive.org/web/20210505105157/https://citywireselector.com/news/edmond-de-rothschild-unveils-human-capital-fund/a1503751 |archive-date=5 May 2021 |access-date=2021-10-10 |website=Citywireselector.com}}</ref> [[Yves Perrier]] joined the company's board<ref>{{Cite news |last=Agnew |first=Harriet |date=2021-05-18 |title=Edmond de Rothschild plans to double assets in deals push |work=Financial Times |url=https://www.ft.com/content/7e4de6f6-4855-4963-ac87-c95f2193336f |access-date=2022-11-13}}</ref> and François Pauly replaced Vincent Taupin as CEO of the group.<ref name=":5">{{Cite web |last=Kirakosian |first=Margaryta |date=7 June 2021 |title=Edmond de Rothschild group names new CEO |url=https://citywireselector.com/news/edmond-de-rothschild-group-names-new-ceo/a1516338 |url-status=live |archive-url=https://web.archive.org/web/20210607094725/https://citywireselector.com/news/edmond-de-rothschild-group-names-new-ceo/a1516338 |archive-date=7 June 2021 |access-date=2021-10-10 |website=Citywireselector.com}}</ref> Edmond de Rothschild partnered with the UK-based wealth management firm [[Hottinger & Cie|Hottinger Group]] and acquired a 42.5% stake in the latter.<ref>{{Cite web |date=26 October 2021 |title=Edmond de Rothschild Partners U.K. Wealth arm |url=https://www.finews.com/news/english-news/48479-edmond-de-rothschild-hottinger-london-wealth-management-asset-management-family-office |access-date=13 November 2022 |website=Finews}}</ref> In March 2023, Ariane de Rothschild became CEO of the group.<ref name="finews scepter"/>


==Description==
==Description==


The Edmond de Rothschild Group is a conviction-driven investment house. In 2020, the Group had 2,700 employees, 32 offices in 15 countries and 3 international management centers ([[Geneva]], [[Luxembourg]], [[Paris]]). The Group managed CHF 168 billion worth of assets and recorded a solvency ratio of 20.8%.<ref name=":4">{{Cite web|title=Group {{!}} Edmond de Rothschild|url=https://www.edmond-de-rothschild.com/site/International/en/corporate/about-us/the-group|access-date=6 February 2020|website=www.edmond-de-rothschild.com}}</ref> The Edmond de Rothschild Group provides the following services:
The Edmond de Rothschild Group is a conviction-driven investment house. In 2022, the group had 2,500 employees, 29 offices in 14 countries and 3 international management centers ([[Geneva]], [[Luxembourg]], [[Paris]]).<ref name=":4">{{Cite web |title=Group presentation |url=https://www.edmond-de-rothschild.com/en/group/presentation |access-date=6 February 2020 |website=Edmond-de-rothschild.com}}</ref> The group managed CHF 158 billion worth of assets and recorded a solvency ratio of 22%.<ref name="wealthbriefing results23"/> The Edmond de Rothschild Group provides the following services:


* [[Private banking]]
* [[Private banking]]
Line 61: Line 63:


==Other activities==
==Other activities==
===Foundation (philanthropy) ===
{{See also|Edmond de Rothschild Foundation}}
The Edmond de Rothschild Foundations follow the philanthropic tradition of the [[Rothschild family]]. The entity is an international network of 10 foundations active in the fields of art and culture, health and research, philanthropy, cultural dialogue and social entrepreneurship.<ref>{{Cite web|url=https://www.edmondderothschildfoundations.org/who-we-are/how-we-work.aspx|title=How We Work|website=www.edmondderothschildfoundations.org|access-date=6 February 2020}}</ref>


* [[Edmond de Rothschild Heritage]]: The lifestyle assets managed by the Edmond de Rothschild Group are gathered under the label Edmond de Rothschild Heritage.<ref name=":7" /> Those assets include wines ([[Château Clarke]], [[Château des Laurets]], Château Malmaison, Flechas de los Andes, Rimapere, Rupert and Rothschild Vignerons, Macán, Champagne Barons de Rothschild, a majority stake in [[Château Lafite Rothschild]]), restaurants (''1920'', ''Kaïto'', ''L'Auberge de la Cote 2000''), hotels (Châlet du [[Mont d'Arbois]], [[Four Seasons Hotels and Resorts|Four Seasons]] Hotel Megève,<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2017-10-11/edmond-de-rothschild-invests-119-million-in-french-alps-hotel|title=Edmond de Rothschild Invests $119 Million in French Alps Hotel|last=Torsoli|first=Albertina|date=11 October 2017|newspaper=Bloomberg.com|access-date=6 February 2020}}</ref> La Ferme du Golf) and gourmet foods production ([[Brie]] de Meaux, [[Coulommiers cheese|Coulommiers]], Merle Rouge, honey, olive oil, [[Terrine (food)|terrine]], jam).
[[Firoz Ladak]] is the CEO of the Foundations since 2005.<ref>{{Cite news|url=https://www.lemonde.fr/afrique/video/2017/11/14/nous-voulons-promouvoir-une-philanthropie-autre-qu-occidentale_5214660_3212.html|title=Vidéo. " Nous voulons promouvoir une philanthropie autre qu'occidentale "|work=Le Monde.fr|access-date=6 February 2020|language=fr-FR}}</ref>
* [[Edmond de Rothschild Foundations]]: Following the philanthropic tradition of the Rothschild family, the Edmond de Rothschild Foundations is an international network of 10 foundations active in the fields of art and culture, health and research, philanthropy, cultural dialogue and social entrepreneurship.<ref>{{Cite web |title=How We Work |url=https://www.edmondderothschildfoundations.org/who-we-are/how-we-work |access-date=2023-01-22 |website=www.edmondderothschildfoundations.org}}</ref>

* Gitana Team: Professional sailing team created by Benjamin de Rothschild in 2001<ref>{{Cite web |date=2002-11-08 |title=Héritier de deux noms |url=https://www.lesechos.fr/2002/11/heritier-de-deux-noms-703036 |access-date=2023-01-22 |website=Les Echos |language=fr}}</ref>
=== Heritage (lifestyle) ===
{{See also|Edmond de Rothschild Heritage}}
The lifestyle assets managed by the Edmond de Rothschild Group are gathered under the label Edmond de Rothschild Heritage. Those assets include:<ref>{{Cite web|url=https://thegoodlife.thegoodhub.com/2018/06/26/edmond-de-rothschild-une-holding-tres-lifestyle/|title=Edmond de Rothschild, une holding très lifestyle - Good Boost|last=Consigny|first=Chloé|date=26 June 2018|website=The Good Life|language=fr-FR|access-date=6 February 2020}}</ref>

* Wines: [[Château Clarke]], [[Château des Laurets]], Château Malmaison, Flechas de los Andes, Rimapere, Rupert and Rothschild Vignerons, Macán, Champagne Barons de Rothschild, and a majority stake in [[Château Lafite Rothschild]]
*Restaurants: ''1920'' (2 [[Michelin stars]]), ''Kaïto'', ''L'Auberge de la Cote 2000''
* Hospitality: Châlet du [[Mont d'Arbois]], [[Four Seasons Hotels and Resorts|Four Seasons]] Hotel Megève,<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2017-10-11/edmond-de-rothschild-invests-119-million-in-french-alps-hotel|title=Edmond de Rothschild Invests $119 Million in French Alps Hotel|last=Torsoli|first=Albertina|date=11 October 2017|newspaper=Bloomberg.com|access-date=6 February 2020}}</ref> La Ferme du Golf
* Farms: cheesemaking ([[Brie]] de Meaux, [[Coulommiers cheese|Coulommiers]], Merle Rouge), honey, olive oil, [[Terrine (food)|terrine]], jam

=== Gitana Team (sailing) ===
[[File:Gitana 16 étrave.jpg|thumb|''Gitana 16'']]
The sailing tradition of the family dates back to 1879 when the baroness Julie Caroline de Rothschild passed the 20-knot milestone with her motorboat ''Getana'', followed by 26-knot record with the ''Gitana II'' 25 years later. In the 1960s, baron Edmond de Rothschild launched the ''Gitana III'', a [[monohull]] sailboat. The ''Gitana IV'' won the 1965 [[Fastnet Race]].<ref name=":2">{{dead link|date=December 2020}}{{Cite web|url=http://www.gitana-team.com/en/legende.php|title=The Legend - Gitana : Offshore racing stable created by Baron Benjamin de Rothschild|last=TEAM|first=GITANA|website=www.gitana-team.com|language=en|access-date=6 February 2020|archive-date=20 September 2020|archive-url=https://web.archive.org/web/20200920170824/http://www.gitana-team.com/en/legende.php|url-status=dead}}</ref>

In 2000, [[Benjamin de Rothschild]] purchased the {{Convert|62|ft|m|adj=mid|-long}} [[Elf Aquitaine (catamaran)|Elf Aquitaine]] and founded the professional sailing team Gitana Team. The ''Gitana VII'' won the [[Route du Rhum]] 2006.<ref name=":2"/> On 17 July 2017, the 32×23-meter Maxi Edmond de Rothschild (''Gitana 17'') was introduced, the offshore racing's first maxi-[[multihull]] designed to fly in the open ocean.<ref>{{dead link|date=December 2020}}{{Cite web|url=http://www.gitana-team.com/en/b-14/maxi-edmond-de-rothschild|title=Maxi Edmond de Rothschild - Gitana : Offshore racing stable created by Baron Benjamin de Rothschild|last=TEAM|first=GITANA|website=www.gitana-team.com|language=en|access-date=6 February 2020|archive-date=27 September 2019|archive-url=https://web.archive.org/web/20190927065401/http://www.gitana-team.com/en/b-14/maxi-edmond-de-rothschild|url-status=dead}}</ref><ref>[{{Cite web|url=http://www.asia-pacificboating.com/news/2017/04/gitana-unveils-maxi-edmond-de-rothschild|title=Gitana unveils Maxi Edmond De Rothschild - News - Asia-Pacific Boating|website=www.asia-pacificboating.com|access-date=6 February 2020|archive-date=6 February 2020|archive-url=https://web.archive.org/web/20200206071611/http://www.asia-pacificboating.com/news/2017/04/gitana-unveils-maxi-edmond-de-rothschild|url-status=dead}}</ref>


==Governance==
==Governance==
Line 89: Line 75:


=== Executive committee ===
=== Executive committee ===
* Ariane de Rothschild (CEO)<ref name="finews scepter"/>
* François Pauly (CEO)<ref name=":5">{{Cite web|last=Kirakosian|first=Margaryta|date=7 June 2021|title=Edmond de Rothschild group names new CEO|url=https://citywireselector.com/news/edmond-de-rothschild-group-names-new-ceo/a1516338|url-status=live|access-date=2021-10-10|website=citywireselector.com|archive-url=https://web.archive.org/web/20210607094725/https://citywireselector.com/news/edmond-de-rothschild-group-names-new-ceo/a1516338 |archive-date=7 June 2021 }}</ref>
* Cynthia Tobiano (Deputy CEO)
* Cynthia Tobiano (Deputy CEO)<ref name="finews scepter"/>
* Benoit Barbereau (Chief Operating Officer)
* Christophe Caspar (Head of Group's Asset Management)
* Christophe Caspar (Head of Asset Management)
* Sabine Rabald (COO)
* Jean-Christophe Pernollet (Chief Risk Officer / Chief Legal & Compliance Officer)
* Philippe Cieutat (Chief Financial Officer)
* Pierre-Étienne Durand (Head of Strategy)
* Diego Gaspari (Head of Human Resources)
* Diego Gaspari (Head of Human Resources)
* Hervé Ordioni (Head of Private Banking)
* Robert Jenkins (Chief Brand and Marketing Officer)
* Jean-Christophe Pernollet (Chief Risk / Legal / Compliance Officer)
* Pierre-Etienne Durand (Head of Strategy)


== See also ==
== See also ==
Line 104: Line 91:
*[[Ariane de Rothschild]]
*[[Ariane de Rothschild]]
*[[Rothschild family]]
*[[Rothschild family]]
*[[Banking in Switzerland]]


==References==
==References==
<references />
{{Reflist}}


== External links ==
== External links ==


*[https://www.edmond-de-rothschild.com/ Edmond de Rothschild Group]
*[https://www.edmond-de-rothschild.com/ Edmond de Rothschild Group]
*[https://edmondderothschildheritage.com/fr/ Edmond de Rothschild Heritage]
*[http://www.edmondderothschildfoundations.org/ Edmond de Rothschild Foundations]


{{Rothschilds}}
{{Rothschilds}}

Latest revision as of 14:37, 24 February 2024

Edmond de Rothschild Group
FormerlyCompagnie Financière Edmond de Rothschild
IndustryFinancial services
Founded1953; 71 years ago (1953)
FounderEdmond de Rothschild
HeadquartersGeneva, Switzerland
Area served
Worldwide
Key people
Ariane de Rothschild (CEO)
Cynthia Tobiano (Deputy CEO)
AUMIncrease 158 billion CHF (2022)
Number of employees
2,500 (2022)
WebsiteEdmond-de-rothschild.com

The Edmond de Rothschild Group is a financial institution specialized in private banking and asset management. Based in Geneva, the group is family-owned and independent, and encompasses the Edmond de Rothschild Foundations (philanthropic arm), the lifestyle brand Edmond de Rothschild Heritage (fine wine and cheese, luxury hotels and restaurants), and sponsors the Gitana Team (professional sailing team).

The group was founded in Paris in 1953 by Edmond de Rothschild as La Compagnie Financière (LCF) Edmond de Rothschild. After opening branches in Geneva and Luxembourg, the LCF launched the first fund of funds in 1969. In 1997, Benjamin and Ariane de Rothschild took over the governance of the company, which was reorganized and renamed Edmond de Rothschild Group in 2010.

In 2022, the business managed assets of CHF 158 billion, had 2,500 employees, and had 29 sites across 14 countries.[1] Ariane de Rothschild has been CEO of the group and Cynthia Tobiano Deputy CEO since March 2023.[2]

History[edit]

1953-1997: Edmond de Rothschild era[edit]

In 1953, Edmond de Rothschild founded La Compagnie Financière (LCF) Edmond de Rothschild in Paris. He launched the Geneva-based private banking practice Banque Privée Edmond de Rothschild in 1965 and the branch in Luxembourg three years later.[3]

In 1969, LCF Edmond de Rothschild introduced a new investment model, the fund of funds (FOF) management.[4] In 1970, LCF Edmond de Rothschild was delivered a French banking licence.[5] In 1973, LCF Edmond de Rothschild bought the Bank of California, and sold it back to the Mitsubishi Bank in 1985 for thrice its acquisition price.[6] In 1973, Edmond de Rothschild purchased the vineyard Château Clarke, appellation Listrac-Médoc, the first wine of the Edmond de Rothschild Heritage collection.[7] In 1982, when David de Rothschild launched Paris-Orléans Gestion (Rothschild & Co), LCF Edmond de Rothschild took a 10% stake in the new structure.[6]

In 1989, Benjamin de Rothschild, son of Edmond de Rothschild, founded the Compagnie de Trésorerie to offer advanced financial risk management services.[3] In 1992, LCF Edmond de Rothschild managed assets worth $2 billion,[6] and opened an office in Hong Kong.[8]

1997-2021: Benjamin and Ariane de Rothschild era[edit]

Following the death of his father in 1997, Benjamin de Rothschild became the president of La Compagnie Financière Edmond de Rothschild.[6][9] In 1999, in Canada, in association with the Banque Laurentienne, LCF created the financial company BLC—Edmond de Rothschild Gestion d'Actifs Inc., which eventually led to the creation of B2B Banque.[10] In 2001, LCF launched its first online banking website.[11] In 2002, LCF launched the private equity structure Capital Partners.[12] In 2005, Benjamin and Ariane de Rothschild launched the Edmond de Rothschild Foundations to unify and optimize the group's philanthropic operations.[13] In 2006, LCF and Nikko Cordial Securities launched LCF Edmond de Rothschild Nikko Cordial, the first fully-fledged family office in Japan.[14] In March 2008, LCF Edmond de Rothschild became the first foreign bank in China to own a share of a Chinese mutual fund manager when it bought 15% of Zhonghai Fund Management,[15] and increased its participation to 25% in 2011.[16] From 2000 to 2010, LCF Edmond de Rothschild opened 7 regional offices in France.[17]

In 2009, Ariane de Rothschild became the vice-president of LCF Edmond-de-Rothschild.[3] In 2010, La Compagnie Financière Edmond de Rothschild (LCF) changed its name to Edmond de Rothschild Group.[18] In 2011, the group joined the UNEP FI program.[19] In 2011, the group opened an office in Dubai to develop its activities in the Middle East[20] and became a member of the United Nations Global Compact.[21] In 2013, it announced its plan to open a new office in London.[22] In 2014, after raising a $530 million fund targeting investments in Africa,[23] all of the company's financial and non-financial assets were reorganized within the group's structure.[24]

In 2015, Ariane de Rothschild was named CEO of the Edmond de Rothschild Group.[25] She was the first woman to run a Rothschild-branded financial institution,[26] and was nominated to give the company a new impetus.[27] The group published a sustainability report for the first time[28] and launched the Fund Big Data.[29] Under the Swiss Bank Program, the group signed a non-prosecution agreement with the US Department of Justice regarding undeclared US accounts in Switzerland and paid a $45.24 million penalty.[30] In 2016, the Société française des hôtels de montagne (SFHM) which gathered the non-financial assets of the group became Edmond de Rothschild Heritage.[31] In 2017, the group was fined $10.1 million in the aftermath of the 1MDB affair.[32] In 2018, the group raised a €345 million fund to invest in biotech and medical devices.[33] In March 2019, the company removed Edmond de Rothschild (Switzerland) S.A. from public trading, making it 100% private. Ariane de Rothschild took chairmanship of the board, and Vincent Taupin became CEO. The French business entities were folded into the Swiss holding company to simplify the group's organization.[34]

In 2019, the Edmond de Rothschild Group launched an AI-powered fund to invest in the real estate market[35] and raised €375 million for its fourth Africa-focused fund.[36] The company's shares were delisted from the Zurich stock exchange on 22 October 2019.[37] In 2020, the group made its first investment in the Baltics by investing in the parking lot operator Parkdema[38] and Sergey Bogdanchikov filed a lawsuit against the group for fraud.[39]

Since 2021: Ariane de Rothschild era[edit]

In January 2021, Benjamin de Rothschild died of a heart attack.[40] Ariane de Rothschild became the sole majority owner of the Edmond de Rothschild Group, holding the majority of the votes with her four daughters,[41] and maintained the roadmap of the group's transformation initiated with her husband.[42]

In 2021, the group launched a $250-million foodtech fund with PeakBridge VC[43] and the Fund-Human Capital focused on companies with the best employee management practices.[44] Yves Perrier joined the company's board[45] and François Pauly replaced Vincent Taupin as CEO of the group.[46] Edmond de Rothschild partnered with the UK-based wealth management firm Hottinger Group and acquired a 42.5% stake in the latter.[47] In March 2023, Ariane de Rothschild became CEO of the group.[2]

Description[edit]

The Edmond de Rothschild Group is a conviction-driven investment house. In 2022, the group had 2,500 employees, 29 offices in 14 countries and 3 international management centers (Geneva, Luxembourg, Paris).[48] The group managed CHF 158 billion worth of assets and recorded a solvency ratio of 22%.[1] The Edmond de Rothschild Group provides the following services:

Other activities[edit]

  • Edmond de Rothschild Heritage: The lifestyle assets managed by the Edmond de Rothschild Group are gathered under the label Edmond de Rothschild Heritage.[31] Those assets include wines (Château Clarke, Château des Laurets, Château Malmaison, Flechas de los Andes, Rimapere, Rupert and Rothschild Vignerons, Macán, Champagne Barons de Rothschild, a majority stake in Château Lafite Rothschild), restaurants (1920, Kaïto, L'Auberge de la Cote 2000), hotels (Châlet du Mont d'Arbois, Four Seasons Hotel Megève,[49] La Ferme du Golf) and gourmet foods production (Brie de Meaux, Coulommiers, Merle Rouge, honey, olive oil, terrine, jam).
  • Edmond de Rothschild Foundations: Following the philanthropic tradition of the Rothschild family, the Edmond de Rothschild Foundations is an international network of 10 foundations active in the fields of art and culture, health and research, philanthropy, cultural dialogue and social entrepreneurship.[50]
  • Gitana Team: Professional sailing team created by Benjamin de Rothschild in 2001[51]

Governance[edit]

Presidents[edit]

Executive committee[edit]

  • Ariane de Rothschild (CEO)[2]
  • Cynthia Tobiano (Deputy CEO)[2]
  • Benoit Barbereau (Chief Operating Officer)
  • Christophe Caspar (Head of Asset Management)
  • Philippe Cieutat (Chief Financial Officer)
  • Pierre-Étienne Durand (Head of Strategy)
  • Diego Gaspari (Head of Human Resources)
  • Hervé Ordioni (Head of Private Banking)
  • Jean-Christophe Pernollet (Chief Risk / Legal / Compliance Officer)

See also[edit]

References[edit]

  1. ^ a b "Gross Income Rises At Edmond De Rothschild; Logs Net Inflows". Wealthbriefing.com. 15 March 2023. Retrieved 26 March 2023.
  2. ^ a b c d Claude Baumann (15 March 2023). "Baroness Ariane Takes the Scepter at Edmond de Rothschild". Finews.com. Retrieved 26 March 2023.
  3. ^ a b c "The Business ‹ Group Edmond de Rothschild ‹ Group Edmond de Rothschild :: The Rothschild Archive". www.rothschildarchive.org. Archived from the original on 26 June 2017. Retrieved 6 February 2020.
  4. ^ McIntosh, Bill (April 2009). "Banque Privée Edmond de Rothschild". thehedgefundjournal.com. Retrieved 6 February 2020.
  5. ^ Fay, Sophie (5 November 1999). "Edmond de Rothschild la passion de la banque" (PDF). Le Monde (in French). Retrieved 6 February 2020.
  6. ^ a b c d Prial, Frank J. (4 November 1997). "Baron Edmond de Rothschild, 71, French Financier, Dies". The New York Times. ISSN 0362-4331. Retrieved 6 February 2020.
  7. ^ Garely, Elinor (12 May 2018). "Baron Edmond de Rothschild wine: When the name is the story". Eturbonews.com. Retrieved 6 February 2020.
  8. ^ John, Alun (9 December 2016). "Edmond de Rothschild to close Hong Kong branch amid troubled times for private banks". South China Morning Post. Retrieved 6 February 2020.
  9. ^ "French Banker Edmond de Rothschild, 71". Chicagotribune.com. 4 November 1997. Retrieved 6 February 2020.
  10. ^ "La Banque Laurentienne aujourd'hui". Histoire du Québec (in French). Retrieved 6 February 2020.
  11. ^ "Gérer sa fortune en ligne avec E-Rothschild". 01net.com (in French). 21 September 2001. Retrieved 6 February 2020.
  12. ^ Paisner, Guy (15 July 2002). "LCF Rothschild moves into private equity". Fnlondon.com. Retrieved 6 February 2020.
  13. ^ "Nous voulons promouvoir une philanthropie autre qu'occidentale". Le Monde (in French). Retrieved 22 January 2023.
  14. ^ "Establishment of a new company - Presenting Japan's first genuine Family Office Services". Smbcnikko.co.jp. 14 February 2006. Retrieved 6 February 2020.
  15. ^ Chen, George (11 March 2008). "France's Edmond de Rothschild to buy China fund stake". Reuters. Retrieved 6 February 2020.
  16. ^ Serrouya, Thierry (18 April 2011). "LCF Edmond de Rothschild se renforce dans l'empire du Milieu". La Tribune (in French). Retrieved 6 February 2020.
  17. ^ Lechantre, Caroline (28 September 2010). "La province, relais de croissance pour LCF Edmond de Rothschild". Les Echos (in French). Retrieved 6 February 2020.
  18. ^ "Les grandes étapes du groupe". Le Temps (in French). 22 June 2014. ISSN 1423-3967. Retrieved 13 November 2022.
  19. ^ "Edmond de Rothschild (Suisse) S.A – United Nations Environment – Finance Initiative". Unepfi.org. 14 June 2011. Retrieved 6 February 2020.
  20. ^ Marriage, Madison (18 October 2011). "Rothschild targets Middle East". Investmenteurope.net. Retrieved 6 February 2020.
  21. ^ "Edmond de Rothschild Achieves 4-year Goals for Sustainable Development". Reportalert.info. 29 June 2020. Retrieved 7 September 2020.
  22. ^ Schäfer, Daniel (17 November 2013). "Edmond de Rothschild to open London merchant bank". Financial Times. Retrieved 6 February 2020.
  23. ^ "Rothschild fund raises $530 million to invest in Africa: FT". Reuters. 29 June 2014. Retrieved 6 February 2020.
  24. ^ "Une identité commune pour Edmond de Rothschild". Paperjam.lu (in French). 2 June 2014. Retrieved 13 November 2022.
  25. ^ Bray, Chad (14 January 2015). "Edmond de Rothschild Group Names Chairman's Wife as C.E.O." DealBook. Retrieved 6 February 2020.
  26. ^ Agnew, Harriet (15 March 2019). "Ariane de Rothschild challenges Swiss conservatism". Financial Times. Retrieved 6 February 2020.
  27. ^ Agnew, Harriet (13 March 2019). "Edmond de Rothschild to take its Swiss bank private". Financial Times. Retrieved 6 February 2020.
  28. ^ "Edmond de Rothschild Group Publishes First Sustainability Report". 3blmedia.com. 23 July 2015. Retrieved 6 February 2020.
  29. ^ "Edmond de Rothschild: un fonds franchit la barre d'un milliard d'euros sous gestion". Allnews (in French). 6 January 2022. Retrieved 16 January 2022.
  30. ^ "Justice Department Announces Joint Resolution with Two Banks Under Swiss Bank Program". www.justice.gov. 18 December 2015. Retrieved 13 November 2022.
  31. ^ a b Consigny, Chloé (26 June 2018). "Edmond de Rothschild, une holding très lifestyle - Good Boost". The Good Life (in French). Retrieved 6 February 2020.
  32. ^ "Private bank Rothschild fined in 1MDB case: source". Reuters. 22 June 2017.
  33. ^ Taylor, Nick Paul (7 February 2018). "De Rothschild raises €345M Europe-skewed life science fund". FierceBiotech. Retrieved 6 February 2020.
  34. ^ Torsoli, Albertina; Winters, Patrick (13 March 2019). "Rothschild Baroness Plots Swiss Private Bank Expansion After Bid". Bloomberg.com. Retrieved 6 February 2020.
  35. ^ Burke, Tim (9 May 2019). "Edmond de Rothschild turns to AI in property investment". Fnlondon.com. Retrieved 6 February 2020.
  36. ^ Mendoza, Carmela (9 June 2019). "Edmond de Rothschild closes fourth Africa fund above target – exclusive". Private Equity International. Retrieved 6 February 2020.
  37. ^ "Edmond de Rothschild Retreats". Finews.com. 19 August 2019. Retrieved 6 February 2020.
  38. ^ "Edmond de Rothschild invests in Baltics parking lot operator Parkdema". IPE Real Assets. 5 February 2020. Retrieved 7 September 2020.
  39. ^ "Edmond De Rothschild Hit With $100 Million Fraud Suit By Ex-Rosneft Boss". 20 October 2020.
  40. ^ "Banking heir Benjamin de Rothschild dies at 57". AP NEWS. 20 April 2021. Retrieved 13 November 2022.
  41. ^ Lamster, Katharina. "Ariane de Rothschild: Die Privatbank, die ausschließlich Frauen gehört". www.private-banking-magazin.de (in German). Retrieved 13 November 2022.
  42. ^ Ruche, Sébastien (18 May 2021). "La reconstruction d'Edmond de Rothschild prendra encore trois ans". letemps.ch (in French). Retrieved 13 November 2022.
  43. ^ Kreutzer, Laura (2 December 2021). "Edmond de Rothschild sets up food-tech investment partnership". Private Equity News. Retrieved 21 December 2021.
  44. ^ Kirakosian, Margaryta (5 May 2021). "Edmond de Rothschild unveils 'Human Capital' fund". Citywireselector.com. Archived from the original on 5 May 2021. Retrieved 10 October 2021.
  45. ^ Agnew, Harriet (18 May 2021). "Edmond de Rothschild plans to double assets in deals push". Financial Times. Retrieved 13 November 2022.
  46. ^ Kirakosian, Margaryta (7 June 2021). "Edmond de Rothschild group names new CEO". Citywireselector.com. Archived from the original on 7 June 2021. Retrieved 10 October 2021.
  47. ^ "Edmond de Rothschild Partners U.K. Wealth arm". Finews. 26 October 2021. Retrieved 13 November 2022.
  48. ^ "Group presentation". Edmond-de-rothschild.com. Retrieved 6 February 2020.
  49. ^ Torsoli, Albertina (11 October 2017). "Edmond de Rothschild Invests $119 Million in French Alps Hotel". Bloomberg.com. Retrieved 6 February 2020.
  50. ^ "How We Work". www.edmondderothschildfoundations.org. Retrieved 22 January 2023.
  51. ^ "Héritier de deux noms". Les Echos (in French). 8 November 2002. Retrieved 22 January 2023.

External links[edit]