Private banking and asset management group Edmond de Rothschild has acquired a 42.5% stake in UK-headquartered family office Hottinger Group for an undisclosed sum.
The deal is part of an agreement between the two companies to combine their wealth operations in the UK “to create deeper value for their private clients”, they said.
The transaction, subject to Financial Conduct Authority (FCA) approval, will see Edmond de Rothschild Group transfer its London-based wealth management arm to Hottinger Group.
The family office will continue to be led by the existing executive team, while Edmond de Rothschild will continue to operate its asset management activities in the UK.
Following the conclusion of the deal, Hottinger Group will provide its services to over 200 wealthy families from around the world from its headquarters in London. It also has offices in Dublin and Geneva.
Post-Brexit financial hub
Mark Robertson, chief executive of Hottinger Group, said: “We are delighted to welcome on board a stable, dynastic and knowledgeable shareholder in the form of Edmond de Rothschild Group. Our firms share core values of integrity, innovation and responsibility, which make this an excellent fit.
“Hottinger Group will continue to focus on its core offerings of bespoke investment management services, merchant banking services and providing independent and comprehensive family office services for sophisticated and conscientious international clients.”
François Pauly, chief executive of the Edmond de Rothschild Group, added: “This partnership, with a renowned family office close to our DNA, demonstrates our desire to constantly improve our offering and services in order to better meet the needs of our clients in the UK.
“It will reinforce our capabilities to serve our international client base who continue to see London as a major financial hub post-Brexit.”