Rothschild & Co has said that its private wealth & asset management division has a “good start” to the year. At the end of the first quarter its revenues totalled EUR 131 million, a year on year increase of two percent.
Assets under management totalled EUR 66.5 billion, down slightly on the EUR 66.6 billion recorded for the same period the previous year. “The first three months of 2018 have seen strong business activity with net inflows of EUR 1.1 billion (of which EUR 0.8 billion were driven by private wealth). Market depreciation and exchange rate effects reduced assets by EUR 1.9 billion,” the firm said in a statement.
It added that the operation integration of Rothschild & Cie Banque and Banque Martin Maurel in France following its merger in 2017 is on track and expected to complete by the end of 2018.
Rothschild Private Wealth & Asset Management (Private Wealth & Asset Management) is made up of Rothschild Martin Maurel (France, Belgium and Monaco), Rothschild Wealth Management & Trust (Switzerland, UK, Germany, Italy and Asia) and Rothschild Asset Management Inc. (North America).