Rothschild Private Bank's Wealth Management Service Now Online

Robert Lee, Tax-news.com, London

02 April 2001

N M Rothschild & Sons (C.I.) Ltd in Guernsey, part of the N M Rothschild private banking group, has launched an online wealth management service geared towards high net worth investors with a minimum of £100,000 of assets to invest.

The bank's managing director Peter Rose told Reuters recently that the ArrowOnline service offers transactional banking as well as a secure messaging system but no trade execution capability for now. Mr Rose said the service, would be an extension of the firm online and would help develop its private banking business: 'We are primarily concerned about delivering a better private banking service for our clients. Clients increasingly demand Internet services to manage their wealth,' he said.

N M Rothschild already provides a comprehensive range of services to high net worth individuals worldwide. The main private banking unit is headquartered in Zurich, Switzerland, and offers to its international clients individual advice and services on all aspects of wealth management and investment.

The launch of ArrowOnline comes at a testing time for private banks and Internet offerings generally, with Swiss private bank Vontobel having recently abandoned its Internet banking venture and Swedish bank SEB suspending the launch of its UK e-banking service for high net worth clients.

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