Speculations about a merger between the Swiss and French Rothschild banking groups are picking up once more. Ariane de Rothschild, CEO of Edmond de Rothschild in Geneva, is having none of it.
Ariane de Rothschild, the bustling owner and CEO of Geneva’s private bank Edmond de Rothschild, clearly dismissed speculations about a merger of her bank with the investment bank Rothschild & Co, based in Paris.
The baroness claimed that this was a «fantasy» to news agency «Reuters».
Arguments Over the Name
The two Rothschild groups are controlled by two different branches of the renowned banking dynasty. The recent expansion into asset management by French bank Rothschild & Co, represented in Switzerland with its own private bank in Zurich, has fueled speculations that a merger between the two groups would make sense.
This is also due to the similar names. As finews.ch also reported, this had already been the cause of disagreements between the two banks recently.
Less Value?
Since then, it appears that the two houses have grown no closer. «We’re still two very different banks,» de Rothschild placed on record. Rothschild & Co focuses mainly on investment banking and is now actually very active and dynamic in private banking and asset management. This is already the core business of Edmond de Rothschild.
A merger between the two groups would entail only a little creation of value, the bank’s CEO judged.
Welcoming a Former CS Board Member
De Rothschild is the widow of Benjamin de Rothschild, son of the founder of the Swiss bank, who died suddenly in 2021 at the age of 57. On Tuesday, the bank was able to report a jump in profit, after some hard struggles in recent years.
The bank was also able to expand its management team – the new members of the board include former CS board member Christian Gellerstad.
