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Edmond de Rothschild says it's closing Hong Kong business
[HONG KONG] Edmond de Rothschild (Suisse) SA, a wealth and investment manager, said that it's closing its Hong Kong branch.
The Swiss company announced its "intention to close" the branch in a statement, without giving details of the number of staff affected or assets under management in the region.
The firm said that it plans to pursue opportunities in Asia through "selective strategic partnerships" with firms including SMBC Nikko Securities Inc and Samsung Asset Management Co.
As of June 30, the group had 150 billion euros (S$228.7 billion) of assets under management, the statement said.