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Rothschild & Co: 2023 – 1st quarter release

Rothschild & Co - New Court

Resilient revenue despite challenging market conditions

  • The regulatory approvals process related to Concordia’s simplified tender offer for Rothschild & Co shares is on track with a target date for filing the offer of mid-2023, as announced in the press release dated 13 February 2023.
  • First quarter revenue of €606.2 million, down 10 per cent (Q1 2022: €675.3 million). First quarter revenue negatively impacted by currency translation effects of €4 million.
  • Global Advisory: first quarter revenue down 21 per cent to €326.8 million1 (Q1 2022: €413.5 million), reflecting lower levels of completion activity in the quarter.
  • Wealth and Asset Management: Assets under Management (AuM) up 6 per cent to €99.7 billion (31 December 2022: €94.2 billion) due to the combination of Net New Assets (NNA) of €1.5 billion and market performance (€4.0 billion). First quarter revenue up 20 per cent to €196.5 million (Q1 2022: €163.3 million).
  • Merchant Banking: first quarter revenue down 24 per cent to €72.3 million (Q1 2022: €95.5 million). A significant increase in recurring revenue (+59 per cent), driven by our fundraising activities, was offset by lower investment performance revenue, mainly in Corporate Private Equity.

Download the full 1st quarter release (PDF)

 

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1st quarter release (PDF)

(1) Including Redburn, which was treated as an associate until 30/11/2022 and fully consolidated from 01/12/2022

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