Image: Liechtensteinische Landesbank
Rothschild & Co has signed a referral agreement with Liechtensteinische Landesbank (LLB) to onboard its employees and clients in the UAE, significantly expanding its wealth management presence in Dubai, the firm said.
The deal will see about 20 LLB employees join Rothschild & Co’s wealth management division in the region, along with a potential CHF1bn ($1.1bn) in assets.
Rothschild & Co will also take over LLB’s existing Dubai office, bringing the total number of staff in its Middle East wealth management arm to around 25.
“As a strategically important location with significant growth potential, expanding our presence in Dubai enables us to achieve a broader market reach, operational efficiencies, and an expanded service offering across public and private markets and corporate advisory,” the company said.
Deal will help expand expand Rothschild & Co’s market position
Executive chairman Alexandre de Rothschild said the agreement supports the group’s global strategy. “The onboarding of LLB’s business in the UAE is an excellent fit and further supports our strategy across one of our key global business pillars and fastest growing regions. This represents our high conviction in the UAE’s potential, given the increasing concentration of both regional and global wealth here,” he said.
Laurent Gagnebin, partner and CEO of Wealth Management Switzerland, said the deal strengthens the bank’s footprint less than a year after opening its Dubai wealth management business. “The deal with LLB now gives us a real boost and will allow us to quickly consolidate and further expand our market position,” he said.
Saeed Al Awar, partner and head of the Middle East at Rothschild & Co, added: “We have been present in the region for nearly 20 years and have been growing and investing in our business continuously through the cycles. The deal with LLB further strengthens our Wealth Management proposition and deepens our offering to clients locally.”
Rothschild & Co launched its Dubai wealth management operations in 2024 and said the move to onboard LLB’s UAE business reflects its long-term commitment to the Middle East.
