Edmond de Rothschild has released its 2023 figures, reporting growth of 7.5%, or CHF 11.6bn (€12.03bn) in “new money.” The firm’s assets under management rose by 5% and its net income rose by 84%, or CHF 100m (€107.7m).

The press release adds that Rothschild opened an office in Dubai in 2023 whose aim is to “support the growth of our customer base in this region.” In Vietnam, it with the Bank for Investment and Development of Vietnam.

The other was to sell its third-party fund administration business to the Apex Group. “This transaction will enable Edmond de Rothschild to concentrate fully on its two core businesses: private banking and asset management.”

The firm also added two new directors to its board, Yan Lan and Christian Gellerstad.

“Our strong results, with a very high level of net inflows and significant growth in income, confirm the relevance of our strategy,” comments CEO Ariane de Rothschild. “We will continue to invest in order to enhance the desirability of our brand--by pursuing our creative momentum, improving the quality of our services and strengthening the quality of our talent pool.”

On the appointments, Rothschild’s board chair Yves Perrier comments: “We are delighted to welcome Yan Lan and Christian Gellerstad, two renowned experts in their respective fields, to our board of directors. We will benefit from their high-level experience to accelerate our development in Europe and Asia.”