Rothschild Private Bank’s 2009 group profits dropped almost 32%
on its 2008 figure, in what the bank said was extremely tough
economic context it described as an “annus
horribilis”.
The bank posted net profit of almost CHF137m
($128m) to 31 December 2009. It recorded a 12% rise in assets under
management to CHF92.2bn, which helped balance out the profit drop.
Its net inflow of fresh funds totalled CHF5.6bn giving it a slight
net fund gain of CHF235m or about 4% over the past year.
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The Swiss bank also laid out plans for building
strategic inroads into Asia, in particular by opening a branch in
Hong Kong it said would give better access to clients.
“In our view [Asia] will play a decisive role
in the development and future success of our group,” it said.
Its workforce averaged 1,598 last year as
against 1,517 in 2008, marking an increase of 81 employees, or
about 5%.
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