EdRAM retreats from UK retail market

Launched range of funds in UK last year

Edmond de Rothschild Asset Management (EdRAM) is pulling back from the UK retail market less than a year after unveiling a 20-strong range, by relocating staff to Europe and making a number of redundancies including head of UK wholesale Daniel Lee, Investment Week understands.

The group, which has €55bn AUM across an array of asset classes, is relocating fund managers based in the UK to Paris, Luxembourg and Geneva as it refocuses its asset management business on home markets. Investment Week sources said UK staff were informed in December, and a number of redundancies are being made, including that of Lee (pictured) who was hired from Allianz Global Investors in September 2015.  The news follows the announcement in December the group would be closing its Hong Kong office, and will pursue strategic partnerships in Asia instead. EdRAM has not issued a sta...