People Moves
Edmond De Rothschild Increases Hottinger Stake, Names New UK CEO
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The European private bank has partnered with London-based Hottinger since 2021.
Edmond de
Rothschild, the European private banking house, has increased
its stake in UK-based private bank Hottinger & Co
to 70 per cent.
At the same time, a familiar name in the UK wealth industry,
Penny Lovell (pictured below), has been named UK private banking
head. She is joining from Citi Private
Bank, after being at the US group since 2023. (See a story
about her appointment here.) Hottinger
CEO Mark Robertson will become board chairman.
Penny Lovell
Lovell, who joined Citigroup in 2022, has more
than 20 years of banking experience. Previously, she was
managing director and head of HNW clients at Citi Private Bank.
Before Citigroup, Lovell worked at Fleming Family &
Partners, Rothschild & Co Asset Management and Close Brothers
Group.
EdR has partnered with London-based Hottinger since 2021, when it
took a
minority stake alongside Robertson and Alastair
Hunter.
In 2022, Hottinger achieved Securities and Exchange Commission
authorisation to help boost its US services.
