Edmond de Rothschild targets German growth with key hire

Edmond de Rothschild Asset Management has opened an office in Frankfurt am Main and announced a major recruitment from local rival DWS Investments to be based there.

The French asset manager is making a major push into Germany, also drawing up plans to add four more members to its emerging markets and commodities team centred there.

It predicted by 2016 Germany will be “one of the most important markets for Edmond de Rothschild Asset Management in Europe after France”.

To help its expansion, the €14.7bn asset manager has hired Thomas Gerhardt from DWS, where he managed the emerging markets equities team since 2000, to be Rothschild’s head of global emerging markets and commodities.

After working at KPMG he moved to equity fund management at DWS in 1994. His emerging markets equities team has over €14bn of assets, and he personally ran €6bn in his funds, according to Rothschild.

Gerhardt joins in September, reporting to chief investment officer Philippe Uzan.

Edmond de Rothschild Asset Management runs about $3.4bn in emerging markets equity funds.

The asset manager’s emerging markets and commodities team will grow to 14 fund managers by adding three more managers over time. Presently it has four managers in Paris and six Asian equities specialists in Hong Kong.

The group has a long history of investing in emerging markets, having set up its first Asian equity fund in 1993 and then Saint-Honoré Chine fund in 1998.

In April 2006 its parent La Compagnie Financière Edmond de Rothschild became the first private bank in Europe to win a qualified foreign institutional investor licence allowing it to invest in A and G shares in Shanghai and Shenzhen. It also has funds focused on Brazil and India, called Saint-Honoré Brazil and Saint-Honoré Inde.

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