Rothschild & Co: Q1 driven by private wealth;
(CercleFinance.com) - After trading on Wednesday Rothschild & Co reported Q1 2017/18 earnings of 409 million euros (with FY lasting 9 months), up 5% compared to the previous quarter.
While the contribution from the Rothschild Global Advisory business decreased by 6% to 225 million euros, and the "Rothschild Merchant Banking" division fell by 16% to 47 million euros, Rothschild Private Wealth & Asset Management's revenue rose by 40% to 126 million euros.
This growth is mainly due to the group's merger with Martin Maurel.
Despite market conditions that remain favourable, finalised M&A activity declined globally in the first half of 2017. Rothschild & Co. said that in 2017 for its Financial Advisory business, it expects a slightly lower level of revenue than last year (a period which however experienced record revenues).
Copyright (c) 2017 CercleFinance.com. All rights reserved.
While the contribution from the Rothschild Global Advisory business decreased by 6% to 225 million euros, and the "Rothschild Merchant Banking" division fell by 16% to 47 million euros, Rothschild Private Wealth & Asset Management's revenue rose by 40% to 126 million euros.
This growth is mainly due to the group's merger with Martin Maurel.
Despite market conditions that remain favourable, finalised M&A activity declined globally in the first half of 2017. Rothschild & Co. said that in 2017 for its Financial Advisory business, it expects a slightly lower level of revenue than last year (a period which however experienced record revenues).
Copyright (c) 2017 CercleFinance.com. All rights reserved.