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March 13, 2019

Edmond de Rothschild (Suisse) to go private

Swiss private bank Edmond de Rothschild (Suisse), part of the Edmond de Rothschild Group, is set to go private in a drive to simplify the group’s operating structure.

The move would make Edmond de Rothschild the only Swiss private bank to be 100% owned and is part of a project by chairwoman Ariane de Rothschild’s project to simplify the bank’s legal structure, of which she deems this the final phase.

The offer price for each share is said to be set at CHF17,945.

The Swiss bank, which offers wealth management services for private and institutional clients, is expected to be eventually delisted from the Zurich stock market.

The Swiss private bank serves clients in both Switzerland as well as abroad.

Edmond de Rothschild informs Private Banker International that the deal with be worth in the region of CHF 99 million.

Of the move, group executive committee president Ariane de Rothschild has said: “I was named Chairwoman of the Executive Committee of the Edmond de Rothschild Group in January 2015 with the objective of creating a sound and united banking group, benefiting from a unique and distinctive brand name, with a clear vision and a robust balance sheet.”

Benjamin de Rothschild, chairman of the board of directors of Edmond de Rothschild’s holding SA, said: “By taking it private, we are demonstrating our commitment to our banking Group and our ambitions for growth, both organic and through acquisitions. I congratulate my wife and our teams for what has been accomplished in recent years.”

Read next:

The future of private banking in Switzerland

 

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