Rothschild & Company, the Paris-based international financial advisory group, is to close its Singapore wealth management office and operate its Asian business from its Hong Kong regional office.
The firm’s global advisory and trust businesses in Singapore will not be affected.
A Rothschild spokesman confirmed: “Rothschild remains committed to Asia and all their clients in the region and believes that their strong track record and distinctive wealth management offering will enable them to grow their business further.”
Clients will be able to choose to have their assets transferred to either the company’s Hong Kong or Zurich branch.
The news comes just a month after Mike Hue left his position as head of Rothschild’s Singapore Wealth Management arm for Schroders WM, also in Singapore.