ROTHSCHILD (EPA:ROTH) - Rothschild & Co announces the acquisition of Banque Pâris Bertrand

Transparency directive : regulatory news

16/12/2020 07:30

Press release
Paris, 16 December 2020

Rothschild & Co announces the acquisition of Banque Pâris Bertrand

Rothschild & Co announces that Rothschild & Co Bank AG, its Wealth Management
subsidiary, has entered into an agreement to acquire Banque Pâris Bertrand.
This transaction marks another milestone in the sustained growth of Rothschild
& Co's Wealth Management business and will consolidate its strong position in
the important Swiss market. The transaction is expected to complete in the
first half of 2021, subject to regulatory approvals and other customary
conditions.

Banque Pâris Bertrand is a renowned private bank with headquarters in
Switzerland and offices in Geneva and Luxembourg. Banque Pâris Bertrand's
client base consists of wealthy families, family offices and institutional
investors, primarily from Switzerland, as well as other markets in Europe.

Banque Pâris Bertrand, in addition to its wealth management business, operates
three successful asset management businesses: the LongRun Global Equity Fund,
Pâris Bertrand Systematic Asset Management and Hermance Capital Partners
Private Equity investment solutions. Banque Pâris Bertrand has approximately
CHF 6.5 billion of client assets as at November 2020 (CHF 6 billion excluding
intra-group investments).

Banque Pâris Bertrand is an excellent strategic fit for the Wealth Management
business of Rothschild & Co thanks to a similar strategy and culture and a
comparable client profile, with more than 90% of its Wealth Management assets
coming from clients with over CHF 5 million. Banque Pâris Bertrand also brings
complementary investment capabilities and a presence in Luxembourg.

Following this acquisition, client assets for the Rothschild & Co Wealth
Management business in Switzerland will reach over CHF 20 billion (from around
CHF 14 billion as at 30 September 2020) and Rothschild & Co's overall Wealth &
Asset Management division Assets under Management will exceed EUR75 billion.

The acquisition will leave Rothschild & Co well-capitalised, comfortably in
excess of regulatory requirements, and with a robust balance sheet. It will
reduce Rothschild & Co's CET 1 ratio by around 1% from 19.6% to 18.6% (on a 30
June 2020 pro forma basis). The parties have agreed not to disclose the
financial terms of the transaction.

The two founding Managing Partners of Banque Pâris Bertrand, Pierre Pâris and
Olivier Bertrand, will join Rothschild & Co as Executive Vice Chairmen of
Rothschild & Co Bank AG and will continue to serve their existing clients
together with their teams.

Alexandre de Rothschild, Executive Chairman of Rothschild & Co, said, "Our
Wealth Management business has strong footholds across Europe and this
acquisition is another step in developing our unique offering. We are delighted
that the Banque Pâris Bertrand, an extremely reputable private bank in the
important Swiss market, has agreed to join our group. This is a highly
complementary acquisition for Rothschild & Co, with shared values and a
like-minded approach to business. I am sure that together we will continue to
meet our clients' needs by providing an objective, long-term perspective to
preserving and growing their wealth."

Laurent Gagnebin, CEO of Rothschild & Co Bank AG in Switzerland, said: "The
acquisition of such a well- respected private bank will support the growth of
our successful Swiss bank. We believe that the combined knowledge and extensive
network of Banque Pâris Bertrand and Rothschild & Co will benefit the clients
of both firms, enabling us to offer them the best possible advice and service."

Pierre Pâris of Banque Pâris Bertrand said: "Olivier Bertrand and I are
delighted to build a new partnership with Rothschild & Co. After 11 years of
exceptional track record and uninterrupted growth, the timing was right to join
forces with Rothschild & Co to be better positioned for capturing growth
opportunities and for addressing the foreseen increasingly complex regulatory
environment in the interest of our clients and our teams. The strong brand and
excellent reputation of Rothschild & Co will provide the bank with an
outstanding platform for first class client service and long-term investment
performance".

Financial calendar:

* 9 March 2021: Publication of Full year results 2020
* 11 May 2021: First quarter -Financial information
* 20 May 2021: Annual General Meeting

For further information:

Investor Relations - Marie-Laure Becquart
InvestorRelation@rothschildandco.com

Media Contact: Open Up - Kilian Borter
kilian.borter.external@ch.rothschildandco.com
+41 44 295 90 73

Media Relations - Caroline Nico / Emma Rees
Groupmediaenquiries@rothschildandco.com

About Rothschild & Co

With a team of c.3,500 talented financial services specialists on the ground in
over 40 countries across the world, our integrated global network of trusted
professionals provides in-depth market intelligence and effective long-term
solutions for our clients in Global Advisory, Wealth & Asset Management, and
Merchant Banking. Rothschild & Co is family-controlled and independent and has
been at the centre of the world's financial markets for over 200 years.

Rothschild & Co is a French partnership limited by shares (société en
commandite par actions) listed on Euronext in Paris, Compartment A with a share
capital of EUR155,235,024. Paris trade and companies registry 302 519 228.
Registered office: 23 bis avenue de Messine, 75008 Paris, France.

About Banque Pâris Bertrand

Banque Pâris Bertrand was founded in early 2009. With a team of c. 60
experienced and dedicated members, the Bank offers private investors, family
offices and institutions wealth management and investment advisory services.
The Bank is also active in asset management through its LongRun Equity fund,
its PB Systematic Asset Management funds and its partnership in Hermance
Capital Partners (private capital).

Banque Pâris Bertrand SA is an independent Swiss regulated private bank based
in Geneva and Luxembourg with a registered capital of CHF20'000'000. Registered
office: 30, rue du Rhône, 1204 Genève, Suisse

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ROTHSCHILD (EPA:ROTH) - Rothschild & Co announces the acquisition of Banque Pâris Bertrand