BIDV joins forces with the Rothschild family.

The partnership between BIDV and Edmond de Rothschild – the financial institution of a leading wealthy family – is expected to help Vietnamese customers access high-end financial services.

"I am very enthusiastic about this partnership because it represents a shared vision and meets the needs of Vietnamese entrepreneurs. Vietnam presents a clear opportunity for us to expand our network," said Ariane de Rothschild, CEO of Edmond de Rothschild, at the signing ceremony this afternoon (November 16) in Hanoi . She is also the first female CEO of the family's bank.

Earlier in April, the two sides approved a memorandum of understanding on strategic cooperation to enhance premium private banking services in Vietnam.

According to the latest agreement, Edmond de Rothschild – the financial institution of one of the world's wealthiest families – will support BIDV, Vietnam's largest bank by asset size, in training and enhancing its capacity to implement Private Banking services according to international standards.

Mr. Phan Duc Tu, Chairman of the Board of Directors of BIDV, said this is the first time the Vietnamese financial market has seen the presence of a leading global financial institution in the field of high-end personal asset management. With this cooperation, he believes that BIDV Private Banking customers will have access to specialized investment products, be connected with global elites, and experience the unique ecosystem of Edmond de Rothschild in Europe.

Expanding their presence in Vietnam is a testament to the family's strategic approach to the Vietnamese market. McKinsey, a US-based management and business strategy consulting firm, estimates that by 2027, the size of Vietnam's private asset management market will be worth approximately $600 billion, growing at an annual rate of 11% from around $360 billion at the end of 2022.

Edmond de Rothschild was founded in 1744. In 1953, Edmond established Edmond de Rothschild Suisse SA, headquartered in Geneva, Switzerland, operating in private banking and asset management, serving an international clientele including families, businesspeople, and institutional investors. The group also operates in corporate finance, private equity, real estate, and fund services.

To date, the group manages assets worth nearly $180 billion (as of January 2022), with 2,500 employees and 30 locations worldwide. Edmond de Rothschild's unique ecosystem comprises four pillars: finance, lifestyle (wine - hotels, customer service - natural landscapes), sailing, and philanthropy.

Minh Son

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