Edmond de Rothschild said its head of asset management is leaving suddenly after just seven months in the role. His replacement is the Geneva-based bank's head of France.
The family-controlled Swiss private bank said that Roderick Munsters, its head of asset management, is leaving the firm with immediate effect.
Munster, a Dutch and Canadian ex-Robeco banker, was hired in May to bolster Rothschild's asset management in Europe and internationally. The bank cited personal reasons for his departure, without elaborating.
«In a short but exciting period at Edmond de Rothschild, I have been able to review and prepare a new and integrated asset management strategy. I have reluctantly taken the decision to step down and to return to the Netherlands,» Munsters said in a statement.
Internal Replacement
«I fully understand the reasons for Roderick’s decision to step down from his leadership role in Edmond de Rothschild Asset Management, and wish him all the best for the future,» chairwoman Ariane de Rothschild said.
The bank is naming Vincent Taupin to replace Munsters, who will remain part of a French asset management subsidiary's board. The French entrepreneur-banker and former Boursorama head already runs Rothschild's French operations, and will add the asset management role to his current responsibilities.
Separately, the bank said it named Renzo Evangelista and Stephane Pardini deputy directors in its French private bank and appointed Didier Deleage as head of its French asset management activities.
