Edmond de Rothschild Group targets M&A to double AUM in five years - reports

Ex-Amundi CEO Yves Perrier to join board

Edmond de Rothschild Group is eyeing acquisitions as part of plans to double AUM, and has hired former Amundi Asset Management chief executive Yves Perrier to its board, according to the Financial Times.

In an interview given to the FT, the group's president Ariane de Rothschild said it was looking at buying asset managers and private banks, "or hiring smaller teams". She told the FT: "The industry is fragmented with lots of smaller players out there and I think it's important to try to consolidate. I would expect that we double the size of our assets under management in the next five years." Amundi CEO Perrier steps down as firm reports highest-ever profit in Q4 Perrier, who announced in February that he would be stepping down as chief executive of Amundi Asset Management, is due ...