Geneva-based bank Edmond de Rothschild and its Paris counterpart Rothschild & Co found an agreement in the dispute between them over their corporate name.
From now on, no entity will be able to use the Rothschild name alone. In addition, the two investment banks will clarify their relationship by selling their cross – shareholdings.
The agreement reached doesn’t imply a change for Edmond de Rothschild, which will continue its activities under this name. The Rothschild & Co group, meanwhile, will retain its corporate name, but will in the future develop its private banking and asset management activities under the name Rothschild Martin Maurel, in France, Belgium and the Monaco Principality.
The litigation dates back to 2015, when the Paris Orléans group changed its name to Rothschild & Co. The Edmond de Rothschild bank then accused the elder branch of “preempting” the famed family name.
The conclusions of this agreement seal in the future a clear separation between the two banks, which held cross appearances. Therefore, Rothschild & Co will buy seventy-five million euros of treasury shares held by the Geneva bank.
The latter will then deliver to its counterpart 1.9 million Rothschild & Co. shares.