LONDON, Sept 25 (IFR) - Rothschild reported a 15% rise in first-half revenues to €636m for its global advisory business, driven by M&A activity.
The division includes debt and equity advisory as well as M&A. The latter saw revenues rise by a third to €490m, offsetting the other two components, which saw combined revenues fall 21% to €146m.
Rothschild has invested in its US franchise this year and has also appointed a head of global advisory for Greater China.
The firm is advising Coca-Cola on its US$5.1bn purchase of Costa Coffee from Whitbread, as well as Prudential’s demerger of its M&G business.
The group, which includes wealth management and merchant banking, reported an overall 12% year-on-year rise in revenues to €1bn.
Rothschild said it expects “healthy activity levels during the rest of 2018, similar to 2017” in its advisory business but said it remained “alert to the risk of volatility”. (Reporting by Christopher Spink)