Wealth and Asset Management
The trusted partner for long-term growth and preservation
Wealth and Asset Management invests, structures and safeguards assets, creating innovative investment solutions. Today we manage €143 billion of assets in Europe and in the Middle East for private and institutional clients.
Our philosophy has always been to manage our clients’ assets with the same diligence and care as we do our own business. More than 200 years of history drives our ability to take a long-term view in everything we do, including our approach to sustainable investing.
As a business focused on building relationships and delivering the best possible outcomes for our clients, finding the right people to drive our business forward is paramount.
We have a young, entrepreneurial workforce that places customers at the centre of every decision. Our business is made up of 1,800 people in 13 countries across 27 offices. Over the past five years, our number of colleagues has grown by approximately 30%, and in 2025 a further 230 people joined our teams. We are committed to a diverse workforce: this year, 52% of our new hires were women, 46% of our workforce is female and 36% of senior positions are filled by women.
Rothschild & Co has been offering services in Geneva since 1975 and today is the home of Wealth and Asset Management teams.
Services
Wealth Management
Wealth Management offers private clients an objective, long-term perspective on investing, structuring and safeguarding assets, to help them preserve and grow their wealth. We provide a comprehensive range of services to more than 15,000 wealthy and successful families, entrepreneurs, foundations and charities around the world. As a family-controlled business, we are able to provide an innate understanding of multigenerational, wealthy families.
We are fortunate to be part of a lasting legacy, culture and family structure. In an environment where short-term thinking often dominates, we believe long-term preservation is the right approach to managing wealth. We offer impartial advice, tailor our approach to each client and design a service that is right for them.
Asset Management
Our Asset Management business is a global, independent multi-specialist asset manager, delivering investment solutions and services to institutional clients, financial intermediaries, independent financial advisers and our own Wealth Management teams. With headquarters in Paris, and present in nine European countries, we offer a full range of products, including open-ended funds, dedicated mandates and fund of funds.
We benefit from several core long-term areas of expertise such as Fixed Income, global equities and diversified management, European equities and also our Open Architecture fund allocation and selection.
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Key numbers
€143bn
total assets under management (AuM)
€101bn
wealth management AuM
€42bn
asset management AuM
€8.7bn
net new assets
1,800
people (FTE)
13
countries
Wealth and Asset Management — highlights of 2025
Assets under Management (AuM) reached a record €143 billion at the end of 2025, an increase of 16% from 2024.
This growth was underpinned by record Net New Assets (NNA) for Asset Management and continued positive inflows in most Wealth Management locations, with NNA growing at a 7% annualised rate reaching €8.7 billion. The business has demonstrated its resilience, continuing to deliver strong performance across diverse market conditions. Revenue reached €938 million, up 7%.
Wealth Management AuM grew 11% year-on-year to €101 billion, driven by continued strong commercial momentum in attracting new clients and good investment performance across nearly all our locations. Our loan book stood at €4.6 billion and our deposit base at €14.3 billion, with a conservative loan-to-deposit ratio at 32%.
For Asset Management, record NNA and continued strong investment performance supported an impressive AuM growth of 27%, from €33 billion at the end of 2024 to €42 billion at the close of 2025.
Asset Management record year
In 2025, Asset Management delivered a record year, marked by a historic €5.5 billion in NNA. This performance continues strong momentum, with €15 billion in NNA generated over three years. AuM passed the €40 billion threshold for the first time, reaching €42 billion at year end.
International Acceleration
While activity remained very strong in France (with €1.8 billion of annual NNA), Asset Management saw a sharp international acceleration that contributed 68% of annual NNA. Italy emerged as the leading international market with €1.2 billion in NNA, while Spain reached the €1 billion milestone only three years after the launch of the local business. In Northern Europe, results were also remarkable, at €1.8 billion NNA: in addition to solid progress in our historical markets (Belgium, Luxembourg), the notable acceleration in Germany of our flagship strategies and the targeted tactical deployment toward specific client segments in the Netherlands and Switzerland also contributed to the overall positive momentum.
Spotlight on Asset Management expertise supporting exceptional growth
Two flagship areas of expertise accounted for the majority of this commercial momentum in 2025: R-co Valor and Fixed Income.
R-co Valor:
Our flagship fund ended 2025 close to the €10 billion AuM threshold. This was supported by €2.6 billion in NNA, driven by a strong acceleration in the second half of the year.
Fixed Income expertise:
This has been led notably by the R-co Conviction Credit Euro fund, which captured €1.7 billion in NNA over the year. R-co Valor Bond Opportunities and R-co Conviction High Yield SD Euro also recorded notable growth.
Thematic expansion:
Momentum within our international thematic range was driven by R-co Thematic Blockchain Global Equity, R-co Gold Mining and R-co 4Change Net Zero Equity Euro.
Dedicated Investment Solutions:
Momentum within our international thematic range was driven by R-co Thematic Blockchain Global Equity, R-co Gold Mining and R-co 4Change Net Zero Equity Euro.
Growth of Wealth Management business
Strengthening Wealth Management in Luxembourg
We completed a strategic reorganisation of the Luxembourg office as a branch of our French bank, Rothschild Martin Maurel, to expand its activities. Luxembourg now serves as a hub for Wealth Management operations, offering a range of services including investment advice, financial planning, wealth management and banking services.
Expanding our geographic footprint
Wealth Management opened new offices in Nantes and Nice, further strengthening our proximity to clients and reinforcing our regional coverage. Wealth Management is now present in eight locations across France.
Complementing organic growth through bolt-on initiatives
In July 2025, we completed the acquisition of Tenalis AG, a Zurich-headquartered advisory firm, which bolstered our Swiss wealth management capabilities in succession planning. In addition, a referral agreement was signed with Liechtensteinische Landesbank (LLB) to onboard its UAE Wealth Management business, an important milestone in our Middle East expansion, adding approximately 20 new colleagues and around CHF 1 billion in assets to our Dubai team.
Successful leadership transition
In the UK, Wealth Management saw a successful senior leadership transition, with Helen Watson handing over the CEO role to James Morrell and stepping into her new position as Chair.
Private Markets Group
The Private Markets Group, launched in 2023, continued to strengthen its partnership with Five Arrows, as well as identify and source investment opportunities in the areas of private equity, private debt, infrastructure and real estate. In 2025, we successfully deployed our Private Markets discretionary mandates in Switzerland, Germany, Spain, Israel and Dubai, with further development planned. In addition, Asset Management and Five Arrows launched the Credit ELTIF 2.0 joint strategic initiative, leveraging expertise and capabilities across the Rothschild & Co Group. As of the end of 2025, a total of €8 billion had been committed by Wealth and Asset Management to Private Markets funds.
Leveraging sustainability for resilience and long-term performance
Wealth Management continued to support clients in navigating the evolving sustainable investment landscape by offering solutions aligned with diverse sustainability profiles and by organising thematic events to share insights on key sustainability issues. Sustainability also contributed to Asset Management’s strong commercial momentum, as robust and credible ESG processes remain a key requirement for institutional investors, and 4Change climate-focused strategies continued to be recognised for their resilience and performance potential.
We continued to embed sustainability as a transversal component of investment processes across our strategies. In 2025, we joined the Nature 100 engagement initiative, reflecting our willingness to strengthen understanding, integration and stewardship on natural capital-related risks.
Digital advancements
Artificial intelligence and automation
In 2025, AI moved from experimentation to operational deployment. A dedicated Front Office AI application supports advisers from meeting preparation to follow- up. Compliance processes were streamlined, analysing 180,000 documents for 5,000 clients and removing 900+ alerts. In Asset Management, AI now generates fund-specific performance commentaries that facilitate monthly reporting and marketing materials.
Intelligent automation and workplace digitisation remain key priorities. Microsoft Copilot is being deployed to all employees. We continue to streamline operational processes, with 12 new automations achieving c.6,500 hours of annual efficiency gains.
Client digital journey
We continued to enhance our client-facing experience. Key developments included expanding into new geographies such as Luxembourg, launching Instant Payments in France, upgrading trading services in Switzerland and improving end-to-end client journeys. 80% of clients are equipped with, and 65% are actively using, our e-banking service.
