Rothschild & Co

After two exceptional years in 2021 and 2022, in a more challenging environment, 2023 results were down as expected.

Market conditions had a negative impact on the Global Advisory (with lower levels of completion activity during the year) and Five Arrows businesses. Conversely, the Wealth and Asset management business benefited fully from the rise in interest rates and the growth in assets under management.

In a more difficult environment, Rothschild & Co forecast in June 2023 an operating income for the Group’s three businesses of around €540 million and a Net Income – Group share of around €280 million in 2023.

In February 2023, Peugeot Invest committed to invest, alongside Concordia, the holding company of the Rothschild family, and other long-term investors (notably Groupe Industriel Marcel Dassault, Giammaria Giuliani and Mousse Partners) in Rothschild & Co, as part of a simplified tender offer for the Group’s shares. This tender opened on 24 July 2023 at a price of €38.60 per share, excluding the ordinary dividend and exceptional distribution, and ended on 8 September 2023. The AMF announced the success of the offer on 12 September 2023, allowing for the mandatory buy-out of the remaining shares to be implemented on 11 October 2023.

On this occasion, Peugeot Invest invested €153 million in the company and now holds a 5.1% stake in Rothschild & Co. Peugeot Invest is represented on the company’s Supervisory Board by Bertrand Finet. Robert Peugeot is a non-voting member of the Board.