Rothschild & Co launches Wealth Management representative office in Israel
High-tech boom among reasons Rothschild & Co believes Israeli market has huge potential for its Wealth Management business
Rothschild & Co announced on Tuesday the opening of a new representative office in Israel for its Wealth Management business.
The new representative office is headed up by Gerry Livnat, who has more than 20 years of experience in the financial sector in Israel, most recently as CEO of UBS Wealth Management in Israel and, prior to this, as manager of UBank’s main branch in Jerusalem.
“As a country with an extremely vibrant economy, where personal wealth is growing fast, Israel is a key market for Rothschild & Co, with huge potential for its Wealth Management business, where it will provide access to independent advice, discretionary investment management and advisory services to wealthy families and entrepreneurs,” Rothschild & Co said. “This development is in line with the group’s strategy to invest in markets where it has an established network and reputation.”
François Pérol, Managing Partner and Co-Chairman of Rothschild & Co’s Group Executive Committee, said: “Our Wealth Management business has continued to grow substantially in recent years. This investment in Israel is a natural progression for us as we have an established Global Advisory presence here, as well as strong historical family ties.”
Rothschild and Co's Global Advisory business, which provides M&A and investment banking advisory services to companies and startups, has been on the ground in the region since 2008.
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“I am delighted to be joining Rothschild & Co as it focuses on building its presence in Israel,” said Gerry Linvat, Wealth Management Country Head Israel. “I am convinced that the firm’s combination of innovation and tradition will be extremely appealing for many Israeli entrepreneurs and families and support the continued growth of Rothschild & Co’s successful wealth management business.”
Rothschild & Co is an independent, family-owned business, that is one of the world’s largest independent financial advisory groups, with over 3,800 employees in more than 40 countries around the world. Wealth & Asset Management manages around €100 billion in assets.
