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Rothschild & Co | Annual Report 2017
165
1. Overview
4. Financial statements
3.
Management report
2. Business review
Note 32 – Related parties
The term “Executive Directors”, in the context of this note and the Group governance arrangements surrounding the decision-making process at R&Co level,
refers to executive corporate officers (
mandataires sociaux
) of R&Co Gestion, the Managing Partner of R&Co. In accordance with the provisions of R&Co
Gestion’s articles of association, its chairman is the sole executive corporate officer. The following remuneration was received by the executive corporate
officer in the nine-month financial period to 31 December 2017, paid by R&Co Gestion but reimbursed by R&Co in accordance with the provisions of
R&Co’s articles of association relating to R&Co Gestion’s operating expenses.
In thousands of euro
01/04/17
31/12/17
(9 months)
Fixed remuneration
375
TOTAL
375
The chairman of R&Co Gestion did not benefit from payments in shares in respect of 2017 and no severance benefits were provided for termination of work
contracts. No other long-term benefits were granted.
The transactions during the period and balances at the end of the period between Group companies which are fully consolidated are eliminated on
consolidation. Transactions and balances with companies accounted for by the equity method are shown separately in the table below.
Other related parties are: the members of the Supervisory Board; people with active control of the Group; people with active control of the parent company
of R&Co as Rothschild Concordia SAS directors; companies that are controlled by the principal officers; and any person directly or indirectly responsible for
management or control of the activities of R&Co. They also include close family members of any person who controls, exercises joint control or significant
influence on R&Co, and persons related to Executive Directors and members of the Supervisory Board or to board members of its parent company.
31/12/2017
31/03/2017
Companies
accounted
for by the equity
method
Executive
Directors
Other related
parties
Companies
accounted
for by the equity
method
Executive
Directors
Other related
parties
In thousands of euro
Assets
Loans and advances to customers
4,925
–
10,111
4,700
1,293
9,225
Other assets
25
–
39
93
–
–
TOTAL ASSETS
4,950
–
10,150
4,793
1,293
9,225
Liabilities
Due to customers
–
2,814
56,133
62
8,240
162,555
Other liabilities
–
–
–
–
305
1,634
TOTAL LIABILITIES
–
2,814
56,133
62
8,545
164,189
Loan and guarantee commitments
Guarantees and commitments given
–
–
125
–
1,114
59
TOTAL COMMITMENTS
–
–
125
–
1,114
59