Rothschild Wealth Management has named Jon von
Planta and Riccardo Petrachi co-heads of its private client
business in Zurich, as the bank continues to focus on high net
worth individuals (HNWIs) in UK, Germany and Switzerland.
Rothschild is targeting wealthier clients in
Switzerland, especially those with more than CHF5m ($5.45m) in
assets, as a part of its 2010 strategy to focus on onshore assets
in its core markets in the UK, Germany and Switzerland.
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The bank plans to recruit 20 new senior
relationship managers in these core markets in the next five years.
Rothschild said that the double appointment will make the bank’s
experience with wealthier clients accessible to the whole firm.
Hires in line with Euro-centric
strategy
Von Planta will take up the position on 1
April. He has 16 years of experience at Morgan Stanley, where he
built the private wealth business for ultra HNWI (UHNWIs), and
later ran a single family office as chief investment officer.
In 2010 he founded his own asset management
advisory company and continued to manage assets for private
individuals, as well as a privately owned commodity fund
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By GlobalDataRiccardo Petrachi joined Rothschild in October
2011 as head of UHNW clients, focussing on individuals with more
than CHF25m and on family offices.
Rothschild
re-organisation
The bank is also focussing on its investment
engine, made up largely of Rothschild Wealth Management’s
investment research department, which has more than doubled in size
to more than 50 people since 2007.
In 2010 Rothschild re-organised the
client-facing side of its business into three main units: onshore,
international and emerging markets.
The bank has set itself the goal of
sustainable expansion and annual growth in net new assets in the
high single-digits.
