Edmond de Rothschild Group is preparing to launch a merchant banking business based in London this week. The Franco-Swiss outfit is hoping to turn London into its fourth major business centre.

Chaired by Baron Benjamin de Rothschild, the group has begun hiring 20 senior advisors from large banks to launch its private banking and corporate finance arm in London alongside its current asset management arm.

In addition, the arm will be led by Henrik Schliemann and has nearly one hundred staff in London and hopes to expand, even incorporating another building if it will be necessary.

The launch is part of group chief executive officer, Christophe de Backer’s, strategy to capitalise on all opportunities in the post-crisis world. It hopes to encompass a wide variety of services including financial advisory, structuring, investment advice and customised wealth management.

The Geneva-based group has had a presence in London for over 30 years, but that has mainly included asset management.

De Backer said: "I am thrilled to see out Group expand its operations in London offering clients the very best of our expertise. Our aim is for Edmond de Rothschild’s London operations to be a global showcase for the Group, reflecting its tradition and ambitions."