Swiss private bank Edmond de Rothschild to delist

 
Jessica Clark
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Ariane de Rothschild has been appointed chairwoman in the restructure (Source: Getty)

Swiss private bank Edmond de Rothschild has announced plans to delist and restructure in a move to consolidate the group.


The family buyout comes after a settlement was agreed last year among Rothschild cousins over the use of the historic family name for commercial matters, forcing two warring companies to simplify their complex and intertwined structures.

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The private bank and asset manager, which is owned by the Benjamin de Rothschild family, has more than 170bn swiss francs (£128.36bn) in assets under management.

Ariane de Rothschild, the wife of Benjamin, has been appointed chairwoman in the restructure, and Vincent Taupin has become chief executive with Cynthia Tobiano as his deputy.


Read more: Why Edmond de Rothschild launched a UK-focused fund just before Brexit

"By taking it private, we are demonstrating our commitment to our banking Group and our ambitions for growth, both organic and through acquisitions. I congratulate my wife and our teams for what has been accomplished in recent years” Benjamin de Rothschild said.