Edmond de Rothschild has expanded its footprint in the UK private banking sector by increasing its stake in Hottinger & Co Limited to 70%.
Alongside this move, the firm has appointed Penny Lovell as CEO of Private Banking (UK), while outgoing CEO Mark Robertson transitions to chairman of the board.
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This acquisition marks a significant step in Edmond de Rothschild’s strategy to enhance its services for UK and international clients using London as a financial hub.
Moreover, the investment builds on a long-standing partnership that began in 2021 when the firm first acquired a minority stake in Hottinger & Co alongside executive shareholders Robertson and Alastair Hunter.
Hottinger & Co, a London-based independent wealth manager, specialises in providing bespoke financial solutions to high-net-worth individuals and family offices.
In addition to this, the existing senior management team will remain in place, ensuring continuity and a shared commitment to future growth under Lovell’s leadership.
Lovell brings over two decades of experience in private banking and wealth management. She has joined from Citi Private Bank, where she served as managing director and head of HNW (High Net Worth) since 2022. Her career also includes key roles at Fleming Family & Partners, Rothschild & Co Asset Management, and Close Brothers Group.
Ariane de Rothschild, CEO of Edmond de Rothschild stated: “We are pleased to welcome Penny as chief executive officer of Hottinger & Co Limited. She brings a wealth of experience and a track record in private banking, and we are confident in her ability to lead our UK operations into a new era of growth and innovation. Her expertise aligns with our commitment to tailored solutions and exceptional service to our clients. I would also like to extend my heartfelt gratitude to Mark Robertson for his outstanding leadership and strategic vision as CEO, and we are honored to welcome him in his new role as Chairman, where he will continue to contribute to our UK presence.”
The transition underscores Edmond de Rothschild’s ambition to strengthen its private banking and wealth management services, leveraging its expanded stake in Hottinger & Co to deliver long-term value to its clients.
