Edmond de Rothschild, the European private banking group founded by Baron Rothschild in 1953, and chaired by his son Benjamin de Rothschild, has gained FSA approval to launch a UK-focused private merchant bank, targeting companies, family offices and wealthy individuals.
The move is the latest in a line of merchant banks being launched in London, and the most recent development from Geneva-based Edmond de Rothschild to build a sizeable presence in the UK, according to a source close to the situation. The new bank, called Edmond de Rothschild Private Merchant Banking, was granted FSA approval last month.