François Pauly named CEO of Rothschild private bank

The Franco-Swiss private bank and asset manager Edmond de Rothschild Group named François Pauly its new chief executive officer on Tuesday.

Pauly, who had been a non-executive director of Edmond de Rothschild for the past five years, will replace Vincent Taupin who will retire amid other governance changes. Pauly also is chairman of the board of Saint-Paul Luxembourg, the media company that also owns Luxembourg Times.

"I wanted to call on François Pauly to succeed him because, in addition to his remarkable talent and professional experience, he has a detailed knowledge of the group, its strategy and its future challenges," Chairwoman Ariane de Rothschild said in a statement.

The firm, created in 1953, specialises in private banking and asset management. It serves an international clientele of families, entrepreneurs and institutional investors. Edmond de Rothschild plans to develop new so-called impact strategies in real assets, to launch thematic funds and to integrate Environmental Social Governance factors in its entire range of funds.

The firm's assets under management rose by 4% in the first quarter of 2021 to €159 billion thanks to rising markets and positive net inflows in all business lines, the firm said in a press release.

Edmond de Rothschild employs more than 2,500 people in 33 locations worldwide.