Rothschild & Co is set to open a new branch in Miami to expand its capabilities, especially the Global Advisory business, in North America.

The office will provide the firm’s existing and future clients in the area with diverse global advisory services, such as mergers and acquisitions (M&A) as well as equity market solutions, debt advisory and restructuring.

Rothschild & Co said it will leverage the region’s talent and its current leadership to enter the South Florida market.

Eric Hirschfield, who is currently serving as the head of the firm’s Chicago office and Midwest region, will lead the opening of the new branch.

Hirschfield, who became part of Rothschild & Co in 2016, will also lead the Miami office after its opening.

Initially, he will be helped by Rothschild & Co co-head of North America consumer, retail & leisure and a vice chairman for the global advisory business in North America Jaime Arrastia along with metals & mining sector chairman Hugo Dryland.

Rothschild & Co head of North America Jimmy Neissa said: “We are excited by the opportunity to be responsive to the needs of our clients and future clients in Florida and the Southeast region, which is an important market for the firm as we continue to grow our business in North America.

“Our presence in Miami brings us closer to clients in established and emerging industries and signifies our commitment to providing differentiated and localised advice to the region.”

The latest development comes shortly after the owner of Rothschild & Co revealed a plan to take the bank private.