Edmond de Rothschild Asset Management (EdRAM) is relocating its investment team away from its London office as part of its retreat from the UK retail market.

The asset manager, which launched its London office in 2012, is now moving its UK-based fund managers to Paris, Luxembourg and Geneva.

It will however, retain teams covering infrastructure debt and funds of hedge funds offering in the market.

The firm’s head of UK wholesale Dan Lee, who joined in 2015 from Allianz, will depart from the firm as part of this strategy.

The latest move comes less than a year after the firm registered 16 UCITS funds for sale in the UK.  

At that time, EdRAM (France) deputy CEO Guillaume Poli described the move as “a key milestone in our expansion plans into this crucial market” and an “important step in the development of our business in the UK”.

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Last month, Edmond de Rothschild also unveiled plans to close its Hong Kong business and said that it would pursue opportunities in Asia through partnerships with firms.