Edmond de Rothschild has registered a 12% increase in its assets under management (AUM), reaching SFr184bn ($204.01bn) in 2024.
The Swiss financial services firm attributed this growth to “strong” inflows.
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It further said that the growth was propelled by its primary operations in private banking and asset management, with strong performance across all markets.
For the year ended December 2024, Edmond de Rothschild reported net inflows of SFr6.3bn, a 3.8% increase from 2023.
Edmond de Rothschild CEO Ariane de Rothschild said: “Our strong net inflows in all our markets and the distinctions obtained in our core areas of expertise confirm the relevance of our strategy targeting excellence in the service of our clients.
“I am delighted with the work achieved by the teams and the important steps taken in 2024 to improve the efficiency of our bank.”
However, its gross operating income decreased to SFr207m from SFr243m in 2023.
This decline was attributed to the impact of lower interest rates and increased investment in talent and infrastructure, including a 10% rise in its private banker headcount.
As of 31 December 2024, the firm’s Tier 1 ratio and liquidity coverage ratio (LCR) were 19.7% and 193%, respectively.
Edmond de Rothschild (Suisse) chairman of the board of directors Yves Perrier said: “These results reflect our solidity and the relevance of the strategic choices made in recent years. Our progress in 2024 reinforces our positioning as a player of excellence focused on its clients.”
In 2024, the company achieved milestones in its roadmap, including the acquisition of a 70% stake in Hottinger & Co in the UK and the launch of an infrastructure debt fund project with SNB Capital in Saudi Arabia.
The firm also modernised its infrastructure, migrating to a single IT platform.
France is set to transition to Avaloq banking software in early January 2025, following Switzerland and Luxembourg.
Additionally, 700 employees have been consolidated at the new headquarters in Geneva’s Etang eco-district.
