Swiss banking group Edmond de Rothschild has launched a new fund management business in the United Kingdom. The move was made to increase assets under management and bolster its presence in London. According to a report by the Financial Times, the group brought its existing asset management activities in London for the first time as part of the Edmond de Rothschild Asset Management UK.
The launching has been timed to correspond with the unveiling of Edmond de Rothschild's first merchant bank in London. The group attempts to make the UK capital its fourth global hub alongside Paris, Geneva and Luxembourg, the report said.
Edmond de Rothschild Asset Management chief executive Laurent Tignard told the Financial Times that the new business has EUR5.6 billion assets under management. It will focus on developing an institutional client base with UK pension funds and consultants, he added.
The company plans to launch an infrastructure debt fund in the first quarter of next year, Financial Times said.
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