Edmond de Rothschild to close Hong Kong operations

It’s called risk assessment; their risk of being arrested in Hong Kong far outweighs the benefits of piracy behind enemy lines;

Soon, dem baldheads will have ta work or join us peoples in da welfare lines;

Follow The Money



Swiss private bank Edmond de Rothschild (RLD.S) is closing its Hong Kong operations, according to three people familiar with the matter, more than two decades after it opened shop in the former British territory and as costs in the wealth management industry bite.

The Geneva-based bank and money manager, which had 167 billion Swiss francs ($165 billion) of assets under management at end-June 2016, has already surrendered its China operating license and will run its Japan and Korea operations through its Swiss head office.

“This is part of a return to Europe strategy due to rising cost pressures,” said one of the people familiar with the matter who declined to be named.

The bank confirmed the closure of its Hong Kong operations in an emailed statement and said it will continue to selectively exploit growth opportunities in Asia through partnerships such as with SMBC Nikko Securities and…

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