Swiss wealth manager Edmond de Rothschild Group is planning to expand its private banking business in Asia to target high-net-worth (HNW) individuals and families across the region.
As a part of its growth strategy, the family-owned firm has hired six senior executives in Asia, doubling its team of relationship managers to 12, The Wall Street Journal has reported.
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The report added that the firm is planning to hire three more people by the end of 2014.
Edmond de Rothschild group CEO Christophe de Backer told The Wall Street Journal that the company brand will allow it to gain market share.
"There is space for an organization like us because we are Rothschild," Mr. de Backer said. "A lot of the families here have heard about the name," he was further quoted as saying.
The Geneva based wealth group has set a target of 158 billion in assets under management by 2016 from around 133 billion currently.
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