Hottinger & Cie

Banque Hottinger & Cie SA
Private
Industry Private banking
Founded 1968–2015
Founder Baron Henri Hottinger
Headquarters Switzerland
Number of locations
 9
Website www.hottinger.com/en/ Edit this on Wikidata
the Hottinger Family Swiss Coat of Arm
The balcony of the Cercle de la rue Royale in Paris by Tissot. Baron Rodolphe Hottinguer is in the picture, sitting on the sofa, without hat.

Banque Hottinger & Cie SA was established in 1968 as the Swiss private bank division of the Hottinger Group.

In 1981, Baron Henri Hottinger (1934–2015) sought to further expand and diversfy the international footprint of the Hottinger Group launching major independent operations in several financial capitals, most successfully in London, New York, Nassau and Luxembourg. These businesses were independently capitalised and directly regulated in their respective jurisdictions by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, the Securities and Exchange Commission (SEC) in the US, and the Financial Conduct Authority (FCA) in the UK.[1]

Between 2009 and 2013, Baron Henri and his sons (Rodolphe and Frédéric) resigned their executive positions at Hottinger & Cie.

In 2013 Hottinger & Partners, a franchise asset management business principally owned and controlled by the Clermont-Tonnerre family, was involved in an embezzlement scandal.[2] Hottinger & Cie, in its capacity as depository, witnessed significant losses as a result of the fraud. The losses mortally wounded the Swiss bank's capital adequacy which led to the Swiss division closing its doors in 2015.

The actions of Baron Henri Hottinger in expanding the family's businesses through several financial capitals has permitted the legacy to flourish in both merchant and private banking.[3][4]

Following the death of Baron Henri Hottinger in 2015, his son, Frédéric Hottinger,[5] inherited the vast majority of his father's estate, in particular, Groupe Financière Hottinger & Co. (Hottinger Group).

Upon receiving his inheritance Frédéric Hottinger concluded the family legacy in financial services would most likely flourish with new investment of both capital and external expertise combined with a return to the old family values of serving multiple generations of wealthy families. And so began discussions with a wealthy multi-family office (Archimedes Private Office) whose locations, staff, and expertise were highly complimentary to the existing Hottinger business.[6]

The Financial Conduct Authority (FCA) approved the merger of Hottinger and Archimedes on 26 July 2016 with Hottinger Group now maintaining offices in London, Dublin, and Geneva.[7]

The Luxembourg division of Groupe Financière Hottinger & Co was not part of the merger. In 2017, Iteram Investments, a fund management business, merged with Hottinger Luxembourg. Frédéric Hottinger remains a shareholder and board member of Iteram Investments.

References

  1. ↑ "Hottinger Investment Management Limited". FCA Register. Financial Conduct Authority.
  2. ↑ "The next financial scandal in Switzerland?". Finews. 11 February 2013.
  3. ↑ "€100M Mandate Awarded to Groupe Financiere Hottinger & Co. Ltd". Business Wire. Berkshire Hathaway. 19 April 2016.
  4. ↑ "The Swiss Helvetia Fund, Inc. | Proxy statement". NASDAQ. 30 April 2001. Archived from the original on 4 February 2018.
  5. ↑ "Frédéric Hottinger". The Hottinger Group. Archived from the original on 13 January 2017.
  6. ↑ "€200m mandate awarded to Lombard Odier by Archimedes Private Office". NTB info. Business Wire. 22 March 2016.
  7. ↑ "Hottinger Launches Its New International Multi Family Private Office, Building on 230 Years of Banking Legacy". Business Wire. Berkshire Hathaway. 10 October 2016.
  • Messieurs Hottinguer Banquiers à Paris, Max Gérard, 1968, Tome Premier
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