Solid first quarter of 2019 driven by a strong activity in advisory



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·         Global Advisory: revenue up 12% to €292 million (Q1 2018: €262 million) due to strong performance in our European M&A business. 5th globally by revenue for the twelve months to March 2019

·         Wealth & Asset Management: Strong net new assets and equity markets recovery resulted in a robust growth in Assets under Management, up 7% from December 2018. Revenue was down 1% to €118 million (Q1 2018: €120 million) reflecting negative interest on higher Euro central banks deposits

·         Merchant Banking: revenue down 4% to €24 million (Q1 2018: €25 million) but up 28% when compared to the average first quarter revenue for the previous three years

·         First quarter revenue was impacted :

–    Negatively by the sale of the Trust business on 28 February 2019 (Q1 2019: €5 million versus Q1 2018: €10 million)

–    Positively by the currency translation effects of €8 million

Financial calendar

§  16 May 2019                                  Annual General Meeting

§  22 May 2019                                  Dividend payment date

§  17 September 2019                     Half year results 2019

§  13 November 2019                      Third quarter information 2019

§  10 March 2020                              Full year results 2019

For more information, please visit www.rothschildandco.com

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