Rothschild & Co Bank AG entered into an agreement to acquire Banque Pâris Bertrand Sturdza SA from Investcorp Holdings B.S.C. (BAX:INVCORP) and others on December 16, 2020. The two founding Managing Partners of Banque Pâris Bertrand, Pierre Pâris and Olivier Bertrand, will join Rothschild & Co as Executive Vice Chairmen of Rothschild & Co Bank AG and will continue to serve their existing clients together with their teams. The transaction is subject to regulatory approvals and other customary conditions. The acquisition is expected to complete in the first half of 2021.

The acquisition is expected to complete in the last quarter of financial year 2021. The acquisition will leave Rothschild & Co well capitalized, comfortably in excess of regulatory requirements, and with a robust balance sheet. It will reduce Rothschild & Co's CET 1 ratio by around 1% from 19.6% to 18.6% (on a 30 June 2020 pro forma basis).

Anne-Catherine Philippeau of Rothschild & Co SCA acted as financial advisor to Rothschild & Co Bank AG in the transaction.