Rothschild & Co’s Swiss wealth management division reported record net new money inflows in the first half of 2026, positioning the unit to surpass CHF 200 billion in assets under management within the next three to five years. The growth follows years of investment in local acquisitions and client advisory capacity, offsetting headwinds from a strong Swiss franc and a challenging interest-rate environment.
Net new money inflows in Switzerland surged, driven by demand for estate planning, inheritance advisory and mortgage products. The division’s client-facing model, which limits advisors to fewer than 30 clients each, has resonated amid heightened economic uncertainty, according to Laurent Gagnebin, CEO of Rothschild & Co Bank Schweiz. The unit’s long-term investment approach has also attracted international clients seeking stability.
International expansion is part of the broader strategy, though profitability in new markets such as Dubai, Germany, Spain and Israel remains under pressure. In Dubai, the acquisition of LLB’s business expanded the local team from five to more than 25 employees, with client asset transfers now beginning to materialize. The German acquisition of Marcard, Stein & Co AG awaits final approval from BaFin, with integration expected to take at least 18 months. Organic growth is underway in Spain and Israel.
The Swiss unit’s performance reflects the combined impact of the 2021 acquisitions of Banque Pâris Bertrand and Tenalis, a specialist in estate and succession planning. These deals have fully integrated into operations, contributing to the division’s ability to sustain above-average investment performance and client retention. Gagnebin emphasized the unit’s selective approach to future Swiss acquisitions, prioritizing cultural and operational alignment over scale.
Assets under management in the Wealth & Asset Management division stood at roughly €150 billion as of mid-2026. The division aims to increase this to over €200 billion within five to seven years, aligning with Rothschild & Co’s broader strategy to balance volatile Global Advisory revenues with steady wealth management growth. The Swiss franchise serves as the primary banking platform for the group’s global wealth management operations, despite currency mismatches that weigh on profitability due to costs denominated in francs and revenues in dollars or euros.
