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March 6, 2012updated 04 Apr 2017 3:42pm

Rothschild names private client co-heads

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 in assets, as a part of its 2010 strategy to focus on onshore assets in its core markets in the UK, Germany and Switzerland.

By Thomas McMahon

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.

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

Riccardo 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.

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