July 17, 2019 / 6:45 AM / 4 months ago

Rothschild buys minority stake in stockbroking firm Redburn

PARIS, July 17 (Reuters) - Rothschild has agreed to buy a minority stake in British stockbroking and financial services firm Redburn for an undisclosed amount of money, as regulatory pressures push smaller companies to consolidate with larger players.

In a joint statement, Rothschild said the deal would expand its range of services for its clients, while Redburn said Rothschild’s investment would help Redburn expand its business.

“Redburn has established a market-leading position at a time when equity research providers have experienced significant dislocation following the introduction of MiFID2,” said Rothschild partner and future Redburn chairman Richard Wyatt.

“This dislocation has led to a general contraction in the depth and quality of research coverage. We want to help Redburn capitalise on the opportunities this present,” added Wyatt.

Founded by Mayer Amschel Rothschild in the 18th century, the Rothschild banking dynasty has worked on some of history’s biggest deals, including helping finance Britain’s war against Napoleon’s France. (Reporting by Sudip Kar-Gupta, editing by Louise Heavens)

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