Rothschild & Co has set up a representative office in Israel for its wealth management business.
It will provide access to independent advice, discretionary investment management and advisory services to wealthy families and individuals.
The representative office in Herzelia, part of the Tel Aviv metropolitan area, is headed up by Gerry Livnat, who has more than 20 years’ experience in the financial sector in Israel. Most recently, Livnat was chief executive of UBS Wealth Management in Israel.
The firm says that the country “is a key market” for Rothschild & Co, with “huge potential” for its wealth management business.
François Pérol, managing partner and co-chairman of Rothschild & Co’s group executive committee, said: “Our wealth management business has continued to grow substantially in recent years. This investment in Israel is a natural progression for us as we have an established global advisory presence here, as well as strong historical family ties.”
This comes several months after Rothschild & Co appointed Alison Probert as a director in its UK wealth management business to establish an office in Leeds.