The wealth management subsidiary of Rothschild & Co Bank has agreed to acquire Banque Pâris Bertrand.
Banque Pâris Bertrand is a private bank with headquarters in Switzerland and offices in Geneva and Luxembourg, and its client base consists of wealthy families, family offices and institutional investors, primarily from Switzerland, as well as other markets in Europe.
The private bank, in addition to its wealth management business, operates three asset management businesses: the LongRun Global Equity Fund, Pâris Bertrand Systematic Asset Management and Hermance Capital Partners Private Equity investment solutions.
The transaction is expected to complete in the first half of 2021, subject to regulatory approvals and other customary conditions, and the financial terms of the deal were not disclosed.
Details
Following this acquisition, assets under management for Rothschild & Co’s overall wealth and asset management division will exceed €75bn (£67.7bn, $91.5bn).
The two founding managing partners of Banque Pâris Bertrand, Pierre Pâris and Olivier Bertrand, will join Rothschild & Co as executive vice chairmen and will continue to serve their existing clients together with their teams.
Alexandre de Rothschild, executive chairman of Rothschild & Co, said, “Our wealth management business has strong footholds across Europe and this acquisition is another step in developing our unique offering.
“We are delighted that the Banque Pâris Bertrand, an extremely reputable private bank in the important Swiss market, has agreed to join our group.
“This is a highly complementary acquisition for Rothschild & Co, with shared values and a like-minded approach to business. I am sure that together we will continue to meet our clients’ needs by providing an objective, long-term perspective to preserving and growing their wealth.”
