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REFILE-Private bank Edmond De Rothschild to close Hong Kong operations
December 8, 2016 / 8:54 AM / a year ago

REFILE-Private bank Edmond De Rothschild to close Hong Kong operations

(Refiles to fix story link in paragraph 1)

HONG KONG, Dec 8 (Reuters) - Swiss private bank Edmond de Rothschild is closing its Hong Kong operations, the bank said in a statement on Thursday, confirming a Reuters report.

The Geneva-based bank and money manager, which had assets of 167 billion Swiss francs ($165 billion) under management at the end of June, will run its Japan and Korea joint venture operations through its Swiss head office.

“It also reflects a wider strategy to offer its international clients best of class asset management and private banking expertise from the European market,” the bank said in the emailed statement. (Reporting by Saikat Chatterjee; Editing by Clarence Fernandez)

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