Rothschild Bank Now Under Criminal Investigation After Baron David De Rothschild Indictment
The Swiss unit of Edmond de Rothschild said it’s the subject of a French probe regarding a former business relationship managed by a former employee.“Edmond de Rothschild (Suisse) SA is actively participating in the criminal investigation under way,” the Geneva-based bank said in an e-mailed statement on Friday. “The bank denies all the allegations that have been made against it.”Edmond de Rothschild, a private banking and asset management firm established in Paris in 1953, oversees about 150 billion euros ($164 billion) and is led today by Baron Benjamin de Rothschild and his wife Ariane. The Swiss unit traces its roots to the acquisition of Banque Privee in Geneva in 1965.The company has no further comment at this time, according to the statement. Officials in Geneva weren’t immediately available to respond to a telephone call from Bloomberg News on Friday.