The private banking division at Edmond de Rothschild (France) took in EUR 1.2bn in new money in 2015 (vs. EUR 304m in 2014). This performance was driven by new team hirings, strong sales throughout the network and our reinforced property, credit and private equity offers. New money came from very large accounts and diversified sources such as proceeds from company disposals, additional inflows from existing clients and market share gains.
As of end December 2015, the private bank had close to EUR 15.5bn under management vs. EUR 14.5bn at December 31 2014, a rise of almost 7%.
In Asset Management, the assets remained stable as did the contribution to Gross Operating Income. 2015 was marked by the development of new products like Edmond de Rothschild Fund Global Data and Edmond de Rothschild Equity Solve. Private equity enjoyed strong development-capital investments and exits. We advised on 23 corporate finance deals, including the Almerys spinoff, disposals made by Vuarnet, Adit and Sicame and various Groupe Julhiet operations.
In all, Edmond de Rothschild (France) had a total of EUR 41.8bn under management at December 31 2015 vs. EUR 40.8bn at 31/12/2014, a rise of 2.5% Net banking income rose 4.5% like for like to EUR 315m, up from EUR 302m in 2014. Net profits rose 40% to EUR 31m, up from EUR 22m in the previous year.
"Edmond de Rothschild (France) increased its profits in 2015 thanks to the efforts of all our teams. In today's low interest rate and soft growth environment, our recent progress in economic research, property and private equity, has set us apart even more," said Vincent Taupin, Chairman of the Executive Board at Edmond de Rothschild (France).
For Ariane de Rothschild, Chair of the Executive Committee at the Edmond de Rothschild Group, "Net new money of CHF 10.5bn, CHF 163bn in assets under management and excess equity capital of CHF 700m show that our group is in robust health and riding on our determination to win market share and work together to grow our business. We are fully committed to efforts to modernise our group. 2016 will be full of ambitions and challenges."
In the news:
"Edmond de Rothschild reste à l'offensive sur la collecte" - Les Echos
"Edmond de Rothschild France confirme le rebond de sa banque privée" - L'Agefi Quotidien