The future of Rothschild Asset Management, known in the retail channel primarily for its multi-manag...
The future of Rothschild Asset Management, known in the retail channel primarily for its multi-manager offering, is in doubt following a Rothschild Group decision to focus on international private banking and wealth management.
The decision, taken within the past week, means the group is examining various options for the future of the retail and institutional asset management business of Rothschild Asset Management, which is ranked around 35 in terms of assets under management in the UK.
Paul Manduca, chief executive of RAM, said the middle ground of asset management is not an easy environment and the Rothschild Group is looking at a range of options including a possible sale. Another option for RAM, which has £13bn in assets under management, is recapitalisation by a partner, perhaps similar to the way US group Nationwide took over Gartmore.
Mike Bussey, formerly joint chief executive of Schroders Private Banking, is to create a global private banking operation. The group's existing London-based private client business will be combined with private banking and trust operations in the UK and 12 other locations.
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