This is about a month old but I don’t remember seeing it in the notes from back then, apologies if it’s already been covered and I missed it. Roths selling their Trust business for the stated purpose of focusing on Wealth Management: https://www.rothschildandco.com/en/newsroom/press-releases/2018/10/24/rothschild-and-co-signs-agreement-sale-of-trust-business/

24/10/2018

Rothschild & Co announces today the signature of an agreement for the sale of its worldwide wealth planning and trust services business. This acquisition is being led by Richard Martin, a senior executive of Rothschild & Co, with financial backing from an experienced investor. His responsibilities have included oversight of the Trust business and he will be supported by a senior management team from within Rothschild Trust.

The acquisition is expected to complete in Q1 2019, subject to regulatory approval. The sale is in line with Rothschild & Co's strategic decision to focus on its core wealth management and private banking business.

Alexandre de Rothschild, Executive Chairman of Rothschild & Co Gestion, said, “Following a strategic review of our Private Wealth business, we have decided to focus on growing our Wealth Management operations. In a changing environment, we believe that the Trust business can operate more successfully in an independent structure. As always, our priority is our clients' interests, so we are delighted that Richard Martin, a longstanding Rothschild & Co employee, will be the purchaser and will thereby ensure continuity.”

Richard Martin said, “In today's world of increasing complexity and internationalisation, our clients' needs for first class wealth planning, structuring and administration are greater than ever before. As an independent firm, my colleagues and I are committed to bringing the same long-term perspective as they have come to expect from us. We will continue to work closely with Rothschild & Co, providing a seamless service to our existing clients and with the intermediary community to address the needs of successful international families everywhere.

The trust business will be announcing a new brand in November which will be in use from completion.

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