Edmond de Rothschild to set up merchant banking unit in London
ReutersReuters--Private banking group Edmond de Rothschild is establishing a merchant banking business in London which is set to begin operations this spring, the Financial Times reported on Monday.
February 20, 2013, 12:02 am TWN
The company is currently in the process of hiring a team of senior advisers for the London operation, the financial daily said on its website, citing people close to the situation.
The unit — which was given the nod by the Financial Services Authority last month — would be led by former Hawkpoint chief executive Richard Briance and would not directly compete with NM Rothschild, the paper said.
However, the unit — which would be called Edmond de Rothschild Private Merchant Banking — would be looking at ways to work with Lord Jacob Rothschild's RIT Capital Partners , the Financial Times said.
RIT and Edmond de Rothschild last year launched a joint venture to boost their fund management and investment operations .
Edmond de Rothschild could not immediately be reached for comment outside regular business hours.