Swiss Rothschild Bank Loses Its Second-in-Command Amid Strategy, Team Reshuffle
© AFP 2022 / FABRICE COFFRINIThis picture taken on March 8, 2016, shows a sign of the Swiss private banking Edmond de Rothschild at its headquarters on March 8, 2016 in Geneva. - The bank revealed on March 4, 2016, that it had been placed under investigation in France about a case managed by a former executive and now closed. (Photo by FABRICE COFFRINI / AFP)
The Swiss branch of the world-famous bank changed ownership following the sudden death of its major stakeholder, Benjamin de Rothschild, in January 2021. The new owner, Ariane de Rothschild, has since chartered a new strategy for the company.
The deputy CEO of private banking at the Swiss-based bank Edmond de Rothschild, Martin Liebi, will be resigning from his post soon, Finews has reported, citing an obtained memo and confirmation from a bank spokeswoman. Liebi has held the second-highest executive office at Edmond de Rothschild for five years.
While the memo does not reveal the reasons for his departure, the bank's spokeswoman told Finews that Liebi left to "pursue new projects", without delving into details. It is not clear where he will be employed next.
Edmond de Rothschild's overall head of private banking, Michel Longhini, will succeed Liebi, taking over his responsibilities starting on 9 September, according to the obtained memo. Around 40% of Edmond de Rothschild's assets are in private banking, while the rest is in its asset management department.
The Swiss bank survived a change of ownership earlier this year, with Ariane de Rothschild taking over the financial institution following the untimely death of her husband, previous holder of the major stake - Benjamin de Rothschild – in January 2021. In May 2021, Ariane de Rothschild published articles in several prominent European newspapers outlining the future strategy for the bank under her ownership.
19 May 2021, 18:40 GMT
Firstly, she stressed that Edmond de Rothschild is not for sale but, quite to the contrary, is actively seeking new acquisitions – not just other banks, but also asset managers. Ariane de Rothschild also announced plans for doubling the financial group's portfolio in asset management to $388 billion. Furthermore, she promised a reshuffle in the bank's team. She namely said that the bank's CEO, Vincent Taupin, will depart in the near future, while several new bankers will join the team. Taupin resigned in June, with a former member of the board of directors at Edmond de Rothschild, François Pauly, becoming the new CEO of the Swiss bank.