Rothschild & Co plans to open a wealth management office in Madrid.
It will offer discretionary investment management and advisory services to ultra-high net worth families, entrepreneurs, charities and foundations.
This operation is part of Rothschild & Co’s pan-European strategy for wealth management, where it will invest in key markets where the group already has an established network.
The office is expected to open in September 2021, and it will increase the company’s presence and broaden its offering to both existing and prospective clients in Spain, working closely with its global advisory business, based in Madrid since 1988.
Hugo Martin will become country head for wealth management in Spain, responsible for leading a team of bankers moving from Rothschild & Co in Switzerland.
They will advise both existing and new clients. The business plans to hire additional advisers locally, aiming to grow the team to eight by the end of 2021.
‘Natural progression’
Francois Perol, managing partner and co-chairman of Rothschild & Co’s group executive committee, said: “Our wealth management business has continued to grow substantially as both new and existing clients have entrusted us with their assets.
“This long-term investment in Spain is a natural progression, in line with our strategy to grow our European wealth management business and strengthen our offer across core strategic markets.”
Laurent Gagnebin, head of Rothschild & Co Bank and co-head of wealth management, said: “We are delighted to be strengthening our strategic presence in Spain, where the Rothschild & Co brand already has a strong business and reputation.
“We look forward to collaborating with our existing global advisory colleagues to provide a broader offering to clients.”
