Rothschild Wealth Management onboarded EUR 2 billion in client assets in the first six months of 2019, taking its total assets under management to EUR 47.2 billion.

The wealth and asset management division, which includes another EUR 24.3 billion of institutional assets, posted revenue of EUR 239 million, a one percent decrease on the same period last year.

Profitability within the division declined, due to a “low interest rate environment and higher costs, mainly for regulatory constraints”, Rothschild said in its interim results presentation.

Its pre-tax profit for H1 2019 was EUR 38 million, down 20 per...