Edmond de Rothschild Group is set to acquire a 42.5% holding in the London-based family office Hottinger Group.
The deal, subject to FCA approval, will also see the Swiss firm transferring its London-based wealth management business to Hottinger.
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Financial terms of the transaction were not disclosed.
Once the transaction is completed, Hottinger will serve over 200 wealthy families worldwide from its London headquarters.
It will also continue to offer investment management services and merchant banking services.
Rothschild said that the combined venture will offer ‘deeper value’ for its private clients while ensuring continuity and quality of service.
Hottinger’s existing executive team will continue to lead the firm.
Edmond de Rothschild Group CEO François Pauly remarked that the deal will reinforce the firm’s capabilities to serve its international client base.
Pauly 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.”
Rothschild will remain focused on its asset management activities in the UK, including in the infrastructure debt and real estate fields.
Hottinger Group CEO Mark Robertson commented: “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.”
In 2019, Rothschild acquired a minority stake in independent asset management firm ERAAM.
Recently, Northern Trust agreed to take an equity stake in behavioural analytics and consulting firm Essentia Analytics as part of its effort to enhance Northern Trust Whole Office strategy.
Earlier this year, Abu Dhabi sovereign wealth fund agreed to purchase a 50% stake in Eltizam Asset Management, a subsidiary of International Holding Co.
