François Pauly Named CEO of Edmond de Rothschild

Private banking group Edmond de Rothschild has announced that François Pauly will become its new Chief Executive Officer (CEO).

François Pauly, a Luxembourg national who has served as member of the boards of Edmond de Rothschild (Suisse) and Edmond de Rothschild (Europe) since 2016, will succeed Vincent Taupin, who is set to retire.

Amid other governance changes, Cynthia Tobiano, current Deputy CEO and Chief Financial Officer (CFO) of Edmond de Rothschild (Suisse), will step down at the end of the year to become CEO of Edmond de Rothschild Holding SA. 

In addition, a new director will join the boards of the holding company and Edmond de Rothschild (Suisse) with the nomination of Yves Perrier.

The composition of the banking group’s Executive Committee remains unchanged.

According to Edmond de Rothschild, all of these changes were planned for and are part of the group’s roadmap, as Vincent Taupin had always expressed his wish to retire as soon as the transformation of the group started to pay off and he reached the retirement age. After having made a major contribution to the group's development, Mr Taupin has now decided to retire, in agreement with Ariane de Rothschild, Chairwoman of the Board of Edmond de Rothschild (Suisse).

"I sincerely thank Vincent for the work he has done over the last few years to transform and develop the group and to attract numerous talents. I am delighted that we can continue to benefit from his presence as I have asked him to continue to be part of the boards of Edmond de Rothschild (Europe) and of our private equity structure", commented Ariane de Rothschild. "I wanted to call on François Pauly to succeed him because, in addition to his remarkable talent and professional experience, he has a detailed knowledge of the group, its strategy and its future challenges".

The appointment of François Pauly, a recognised financier with long experience at the head of major private banking firms, including at a global level, is expected to ensure continuity in the group's strategy, as he has been involved in all strategic decisions for the past five years.

Yves Perrier, formerly Managing Director of Amundi, will join the boards of Edmond de Rothschild Holding SA and Edmond de Rothschild Suisse, whilst Cynthia Tobiano will accompany Ariane de Rothschild in overseeing all the family's activities from the end of 2021. Ms Tobiano will join the Board of Directors of Edmond de Rothschild Suisse and Edmond de Rothschild Heritage in April 2022 and the Board of Gitana.

These changes are subject to approval by the regulators and the General Meeting on 4 June 2021.

The new team will continue to implement the group's strategy in order to cement its identity as a Conviction-driven Investment House. This will involve continuing to develop new impact strategies in real assets and maintaining a strong capacity for innovation in liquid assets, with the launch of pioneering thematic funds and the shift towards environmental, social and governance (ESG) integration for the entire range. In private banking, the group will continue its targeted investments for private clients by developing, for example, certificates such as Farming 4.0, which addresses the challenges associated with the decline in current agricultural production, cybersecurity, healthcare or sustainable governance.

After demonstrating its resilience in 2020 against a backdrop of widespread crisis, the Edmond de Rothschild Group is continuing to grow. In the first quarter of 2021, assets under management rose by 4% to CHF 175 billion, driven by the combined effect of rising markets and positive net inflows in all business lines and with contributions from all geographies.