Centennial roots, stability and attention to detail. These are the hallmarks of Edmond de Rothschild, bank of the historic lineage. “We have had the same name, surname and shareholder for 300 years”, comments Pablo Torralba. He is the CEO of the entity in Spain, a Luxembourg branch that employs 40 people. Oriented to high net worth, it landed in Spain with an office in Madrid in 2000 and in 2005 it arrived in Barcelona, ??a headquarters that he seeks to promote.
Its great target is family businesses. “We are, we carry it in our DNA, he is the natural client,” says Torralba. “Catalonia is the one that best represents them.” They are accompanied in growth, the search for partners, a sale… The management of wealth and investment is another mainstay. “The bank is an investment house.” “We adapt to the vital moment of the client. We are like artists, because each one is a world”, says Marcos Belil, director of the Barcelona office.
The client is referenced by word of mouth, law firms, offices… The attention to detail leads to up to three people taking care of the client at the same time, which implies being selective. The goal is for the Catalan market to reach 1,000 million euros in assets under management in two years and for Barcelona to account for 30%-35% of the bank’s weight in Spain.
When guiding the investment of clients, other signs emerge. The focus is on the energy transition, food tech, tomorrow’s employment and the transformation of cities. With the focus always on ESG criteria. “Everything sustainable is profitable. We make investments that have an impact, that are useful,” says Torralba. It is done with a mix between financial products such as funds, bonds or shares and something more tangible such as unlisted companies, infrastructure… The strategy can range from investing in housing in Frankfurt to cleaning floors for new developments in Bilbao or telephony in Africa. “A measurable and positive impact is sought, with profitability for the client,” she emphasizes.
In real estate, one of the favorite sectors in Spain, on a European scale the portfolio amounts to 12,000 million. A differential factor is that the entity itself co-invests and shares the risk. “We align ourselves with the client to seek long-term profitability.” An ally.
After 15 years in Catalonia, “it is a clear commitment”, says Torralba. Both in Spain and at a European level. “It is a fundamental territory in our strategy.” The entity has three bankers here and plans to hire another two before the end of the year.
The Rothschild universe also has philanthropic activities in Spain, in the wine sector –Vega Sicilia– and the hotel sector. Another sample of the Spanish bet. Torralba speaks of an “ecosystem” from which everyone feeds.
