Misplaced Pages

#196803

99-595: The Edmond de Rothschild Group is a financial institution specialized in private banking and asset management . Based in Geneva , the group is family-owned and independent, and encompasses the Edmond de Rothschild Foundations (philanthropic arm), the lifestyle brand Edmond de Rothschild Heritage (fine wine and cheese, luxury hotels and restaurants), and sponsors the Gitana Team (professional sailing team). The group

198-472: A Bronze Age bridge were found on the south River Thames foreshore, upstream from Vauxhall Bridge . Two of the timbers were radiocarbon dated to 1750–1285 BC. In 2010, foundations of a large timber structure, dated to 4800–4500 BC, were found on the Thames' south foreshore downstream from Vauxhall Bridge. Both structures are on the south bank of the Thames, where the now-underground River Effra flows into

297-518: A $ 530 million fund targeting investments in Africa, all of the company's financial and non-financial assets were reorganized within the group's structure. In 2015, Ariane de Rothschild was named CEO of the Edmond de Rothschild Group. She was the first woman to run a Rothschild-branded financial institution, and was nominated to give the company a new impetus. The group published a sustainability report for

396-637: A 10% stake in the new structure. In 1989, Benjamin de Rothschild , son of Edmond de Rothschild, founded the Compagnie de Trésorerie to offer advanced financial risk management services. In 1992, LCF Edmond de Rothschild managed assets worth $ 2 billion, and opened an office in Hong Kong . Following the death of his father in 1997, Benjamin de Rothschild became the president of La Compagnie Financière Edmond de Rothschild. In 1999, in Canada, in association with

495-542: A larger area, similar in size to Greater London, although some outer districts are excluded and some just outside included. The Greater London boundary has been aligned to the M25 motorway in places. Further urban expansion is now prevented by the Metropolitan Green Belt , although the built-up area extends beyond the boundary in places, producing a separately defined Greater London Urban Area . Beyond this

594-421: A lawsuit against the group for fraud . In January 2021, Benjamin de Rothschild died of a heart attack. Ariane de Rothschild became the sole majority owner of the Edmond de Rothschild Group, holding the majority of the votes with her four daughters, and maintained the roadmap of the group's transformation initiated with her husband. In 2021, the group launched a $ 250-million foodtech fund with PeakBridge VC and

693-571: A lower price than traditional private banking. These are called premium banking or priority banking services. They are meant for mass-affluent customers. The accounts do not generate as much revenue as traditional private banking, but given the number of customers, can provide sizeable revenue to the bank. In 2016, Credit Suisse and UBS replaced the phrase "private banking" with "wealth management"; private banking has faced reputational risk as an area for tax avoidance or even tax evasion . Private banking services are only accessible to customers with

792-475: A minimum amount of investible assets. For instance, in 2016, J.P. Morgan began requiring a minimum of $ 10 million in assets to qualify for private banking, with those with less being moved into their Private Client Direct program. Nevertheless, this seems to be an exception as a majority of banks establish the minimum threshold between $ 500,000 and $ 1 million. Indeed, private banking customers are frequently segmented according to their wealth. HNW are customers with

891-424: A niche that only caters to HNWIs—specifically those with liquidity over $ 2 million, though it is now possible to open private banking accounts with as little as $ 250,000 for private investors. An institution's private banking division provides services such as wealth management, savings, inheritance, and tax planning for their clients. For private banking services, clients pay either based on the number of transactions,

990-514: A percentage of AUM (e.g. 0.75% of entire AUM). A few banks offer both a transactional model and an advisory model. The clients choose what suits them. A recent industry trend is towards the advisory fee model, because margins on commissions may go down in the future. London London is the capital and largest city of both England and the United Kingdom , with a population of 8,866,180 in 2022. The wider metropolitan area

1089-403: A population density of 802 per acre (325 per hectare). In addition to the growing number of stores selling goods, such as Harding, Howell & Co. —one of the first department stores —located on Pall Mall , the streets had scores of street sellers . London's overcrowded conditions led to cholera epidemics, claiming 14,000 lives in 1848, and 6,000 in 1866. Rising traffic congestion led to

SECTION 10

#1732771872197

1188-573: A population of 7,172,036 in 2001 and a population density of 11,760 inhabitants per square mile (4,542/km ). The extended area known as the London Metropolitan Region or the London Metropolitan Agglomeration, comprises a total area of 3,236 square miles (8,382 km ) has a population of 13,709,000 and a population density of 3,900 inhabitants per square mile (1,510/km ). Modern London stands on

1287-551: A temperate oceanic climate ( Köppen : Cfb ). Rainfall records have been kept in the city since at least 1697, when records began at Kew . At Kew, the most rainfall in one month is 7.4 inches (189 mm) in November 1755 and the least is 0 inches (0 mm) in both December 1788 and July 1800. Mile End also had 0 inches (0 mm) in April 1893. The wettest year on record is 1903, with a total fall of 38.1 inches (969 mm) and

1386-608: A total worth between €500,000 and €5 million; very high net worth individuals (VHNWI), with assets ranging between €5 million and €30 million; and ultra high net worth individuals (UHNWI), with wealth in excess of €30 million. In terms of AUM, the world's 10 largest private banks (or private banking divisions/subsidiaries of large bank holding companies ), as of 2019, are: Results from Euromoney's annual private banking and wealth management ranking in 2019, which consider, amongst other factors, assets under management (AUM), net income and net new assets. UBS Global Wealth Management took

1485-699: Is 1,049.8 millibars (31.00 inHg) on 20 January 2020. Summers are generally warm, sometimes hot. London's average July high is 23.5 °C (74.3 °F). On average each year, London experiences 31 days above 25 °C (77.0 °F) and 4.2 days above 30.0 °C (86.0 °F). During the 2003 European heat wave , prolonged heat led to hundreds of heat-related deaths. A previous spell of 15 consecutive days above 32.2 °C (90.0 °F) in England in 1976 also caused many heat related deaths. A previous temperature of 37.8 °C (100.0 °F) in August 1911 at

1584-423: Is a conviction-driven investment house. In 2022, the group had 2,500 employees, 29 offices in 14 countries and 3 international management centers ( Geneva , Luxembourg , Paris ). The group managed CHF 158 billion worth of assets and recorded a solvency ratio of 22%. The Edmond de Rothschild Group provides the following services: Private banking Banking originated in provision of some services of what

1683-881: Is a criminal offence in Switzerland, tax evasion is only a civil offence , not requiring banks to notify taxing authorities. In Switzerland, there are many banks providing private banking services. Switzerland has remained neutral since the Congress of Vienna in 1815, including through two World Wars. After World War I, the former nobles of Austro-Hungarian Empire moved their assets to Switzerland for fear of confiscation by new governments. During World War II, many wealthy people, including Jewish families and institutions, moved their assets into Switzerland to protect them from Nazi Germany. However, this transfer of wealth into Switzerland had mixed and controversial results, as beneficiaries had difficulties retrieving their assets after

1782-562: Is agreed that the name came into these languages from Common Brythonic ; recent work tends to reconstruct the lost Celtic form of the name as * Londonjon or something similar. This was then adapted into Latin as Londinium and borrowed into Old English. Until 1889, the name "London" applied officially only to the City of London , but since then it has also referred to the County of London and to Greater London . In 1993, remains of

1881-545: Is formed of two tiers: a citywide, strategic tier and a local tier. Citywide administration is coordinated by the Greater London Authority (GLA), while local administration is carried out by 33 smaller authorities. The GLA consists of two elected components: the mayor of London , who has executive powers , and the London Assembly , which scrutinises the mayor's decisions and can accept or reject

1980-760: Is headquartered in Thames House on the north bank of the River Thames and the foreign intelligence service ( MI6 ) is headquartered in the SIS Building on the south bank. Crime rates vary widely across different areas of London. Crime figures are made available nationally at Local Authority and Ward level. In 2015, there were 118 homicides, a 25.5% increase over 2014. Recorded crime has been rising in London, notably violent crime and murder by stabbing and other means have risen. There were 50 murders from

2079-592: Is held by an independent . The ministerial post of minister for London was created in 1994, however as of 2024, the post has been vacant. Policing in Greater London, with the exception of the City of London , is provided by the Metropolitan Police ("The Met"), overseen by the mayor through the Mayor's Office for Policing and Crime (MOPAC). The Met is also referred to as Scotland Yard after

SECTION 20

#1732771872197

2178-564: Is known as London . It is the capital of the United Kingdom and of England by convention rather than statute. The capital of England was moved to London from Winchester as the Palace of Westminster developed in the 12th and 13th centuries to become the permanent location of the royal court , and thus the political capital of the nation. Greater London encompasses a total area of 611 square miles (1,583 km ) an area which had

2277-516: Is now seen as "private" banking. Early Venetian banks provided personal finance for wealthy families. Private banks came to be known as "private" to stand out from the retail banking and savings banks aimed at the new middle class . Traditionally, private banks were linked to families for several generations. They often advised and performed all financial and banking services for these families. Historically, private banking has developed in Europe (see

2376-670: Is the largest in Western Europe , with a population of 14.9 million. London stands on the River Thames in southeast England, at the head of a 50-mile (80 km) estuary down to the North Sea , and has been a major settlement for nearly 2,000 years. Its ancient core and financial centre , the City of London , was founded by the Romans as Londinium and has retained its medieval boundaries. The City of Westminster , to

2475-523: Is the vast London commuter belt . Greater London is split for some purposes into Inner London and Outer London , and by the River Thames into North and South , with an informal central London area. The coordinates of the nominal centre of London, traditionally the original Eleanor Cross at Charing Cross near the junction of Trafalgar Square and Whitehall , are about 51°30′26″N 00°07′39″W  /  51.50722°N 0.12750°W  / 51.50722; -0.12750 . Within London, both

2574-442: Is unbiased. They believe there is no incentive to push proprietary products, and the client gets the best of what they offer. A few banks claim to have a "strong advisory team" that reflects in the products they offer the client. A couple of banks also define their value proposition on their unified platform, their ability to comply with all regulations, yet serve the client without restrictions. Open architecture product platform

2673-445: Is where a private bank distributes all the third party products and is not restricted to selling only its proprietary products. Closed architecture product platform is where the bank sells only its proprietary products and does not entertain any third party product. These days the needs of the clients are so diverse that it is practically impossible for a bank to cater to those needs by its proprietary products alone. Clients today demand

2772-517: The 2012 Summer Olympics . London is an ancient name, attested in the first century AD, usually in the Latinised form Londinium . Modern scientific analyses of the name must account for the origins of the different forms found in early sources: Latin (usually Londinium ), Old English (usually Lunden ), and Welsh (usually Llundein ), with reference to the known developments over time of sounds in those different languages. It

2871-540: The Black Death in the mid-14th century, London lost nearly a third of its population. London was the focus of the Peasants' Revolt in 1381. London was a centre of England's Jewish population before their expulsion by Edward I in 1290. Violence against Jews occurred in 1190, when it was rumoured that the new king had ordered their massacre after they had presented themselves at his coronation. In 1264 during

2970-533: The Canary Wharf development. This was born out of London's increasing role as an international financial centre in the 1980s. Located about 2 miles (3 km) east of central London, the Thames Barrier was completed in the 1980s to protect London against tidal surges from the North Sea . The Greater London Council was abolished in 1986, leaving London with no central administration until 2000 and

3069-672: The Corn Laws in 1846 was specifically aimed at weakening Dutch economic power. London then overtook Amsterdam as the leading international financial centre. With the onset of the Industrial Revolution in Britain, an unprecedented growth in urbanisation took place, and the number of High Streets (the primary street for retail in Britain) rapidly grew. London was the world's largest city from about 1831 to 1925 , with

Edmond de Rothschild Group - Misplaced Pages Continue

3168-568: The Georgian era , new districts such as Mayfair were formed in the west; new bridges over the Thames encouraged development in South London . In the east, the Port of London expanded downstream. London's development as an international financial centre matured for much of the 18th century. In 1762, George III acquired Buckingham House , which was enlarged over the next 75 years. During

3267-634: The King's Road , Chelsea and Carnaby Street . The role of trendsetter revived in the punk era. In 1965 London's political boundaries were expanded in response to the growth of the urban area and a new Greater London Council was created. During The Troubles in Northern Ireland, London was hit from 1973 by bomb attacks by the Provisional Irish Republican Army . These attacks lasted for two decades, starting with

3366-782: The List of private banks ). Some banks in Europe are known for managing the assets of some royal families. The assets of the Princely Family of Liechtenstein are managed by LGT Group (founded in 1920 and originally known as The Liechtenstein Global Trust). The assets of the Dutch royal family are managed by MeesPierson (founded in 1720). The assets of the British Royal Family are managed by Coutts (founded in 1692). Historically, private banking has been viewed as

3465-627: The London Ambulance Service (LAS) NHS Trust , the largest free-at-the-point-of-use emergency ambulance service in the world. The London Air Ambulance charity operates in conjunction with the LAS where required. Her Majesty's Coastguard and the Royal National Lifeboat Institution operate on the River Thames , which is under the jurisdiction of the Port of London Authority from Teddington Lock to

3564-534: The London Stock Exchange , London remains a European economic powerhouse, and one of the world's major financial centres . It hosts Europe's largest concentration of higher education institutions , some of which are the highest-ranked academic institutions in the world: Imperial College London in natural and applied sciences , the London School of Economics in social sciences , and

3663-782: The Mediterranean was normally through Antwerp and over the Alps ; any ships passing through the Strait of Gibraltar to or from England were likely to be Italian or Ragusan . The reopening of the Netherlands to English shipping in January 1565 spurred a burst of commercial activity. The Royal Exchange was founded. Mercantilism grew and monopoly traders such as the East India Company were founded as trade expanded to

3762-613: The New Model Army entered London in 1647, and they were levelled by Parliament the same year. London was plagued by disease in the early 17th century, culminating in the Great Plague of 1665–1666, which killed up to 100,000 people, or a fifth of the population. The Great Fire of London broke out in 1666 in Pudding Lane in the city and quickly swept through the wooden buildings. Rebuilding took over ten years and

3861-564: The New World . London became the main North Sea port, with migrants arriving from England and abroad. The population rose from about 50,000 in 1530 to about 225,000 in 1605. In the 16th century, William Shakespeare and his contemporaries lived in London during English Renaissance theatre . Shakespeare's Globe Theatre was constructed in 1599 in Southwark . Stage performances came to a halt in London when Puritan authorities shut down

3960-612: The Old Bailey bombing . Racial inequality was highlighted by the 1981 Brixton riot . Greater London's population declined in the decades after the Second World War, from an estimated peak of 8.6 million in 1939 to around 6.8 million in the 1980s. The principal ports for London moved downstream to Felixstowe and Tilbury , with the London Docklands area becoming a focus for regeneration, including

4059-662: The Second Barons' War , Simon de Montfort 's rebels killed 500 Jews while attempting to seize records of debts. During the Tudor period , the Reformation produced a gradual shift to Protestantism . Much of London property passed from church to private ownership, which accelerated trade and business in the city. In 1475, the Hanseatic League set up a main trading base ( kontor ) of England in London, called

Edmond de Rothschild Group - Misplaced Pages Continue

4158-585: The Stalhof or Steelyard . It remained until 1853, when the Hanseatic cities of Lübeck , Bremen and Hamburg sold the property to South Eastern Railway . Woollen cloth was shipped undyed and undressed from 14th/15th century London to the nearby shores of the Low Countries . Yet English maritime enterprise hardly reached beyond the seas of north-west Europe . The commercial route to Italy and

4257-547: The Thames , its primary geographical feature, a navigable river which crosses the city from the south-west to the east. The Thames Valley is a flood plain surrounded by gently rolling hills including Parliament Hill , Addington Hills , and Primrose Hill . Historically London grew up at the lowest bridging point on the Thames. The Thames was once a much broader, shallower river with extensive marshlands ; at high tide, its shores reached five times their present width. Since

4356-660: The Tower of London ; the site featuring the Palace of Westminster , Church of St. Margaret , and Westminster Abbey ; and the historic settlement in Greenwich where the Royal Observatory defines the prime meridian (0° longitude ) and Greenwich Mean Time . Other landmarks include Buckingham Palace , the London Eye , Piccadilly Circus , St Paul's Cathedral , Tower Bridge , and Trafalgar Square . The city has

4455-533: The Victorian era the Thames has been extensively embanked , and many of its London tributaries now flow underground . The Thames is a tidal river, and London is vulnerable to flooding. The threat has increased over time because of a slow but continuous rise in high water level caused by climate change and by the slow 'tilting' of the British Isles as a result of post-glacial rebound . London has

4554-570: The "parent brand" to gain a client’s trust and confidence. These banks have a strong presence across the globe and present private bank offerings as a part of the parent group. "One Bank approach" is where private banks offer an integrated proposition to meet clients personal and business needs. Since private banking concerns understanding a client’s need and risk appetite, and tailoring the solution accordingly, few banks define their value proposition along this dimension. Most modern private banks follow an open product platform, and hence claim their advice

4653-516: The 11th century, London was clearly the largest town in England. Westminster Abbey , rebuilt in Romanesque style by King Edward the Confessor , was one of the grandest churches in Europe. Winchester had been the capital of Anglo-Saxon England , but from this time London became the main forum for foreign traders and the base for defence in time of war. In the view of Frank Stenton : "It had

4752-466: The 17th century, in parallel with the development of sophisticated agriculture, managing the assets of the royal family, nobility and the landed gentry. The United States has one of the largest private banking systems in the world, in part due to the 3.1 million HNWIs accounting for 28.6% of the global HNWIs population in 2010, according to the co-research of Capgemini and Merrill Lynch . Some American banks that specialize in private banking date back to

4851-502: The 18th century, London was said to be dogged by crime, and the Bow Street Runners were established in 1750 as a professional police force. Epidemics during the 1720s and 30s saw most children born in the city die before reaching their fifth birthday. Coffee-houses became a popular place to debate ideas, as growing literacy and development of the printing press made news widely available, with Fleet Street becoming

4950-492: The 19th century, such as U.S. Trust (founded in 1853) and Northern Trust (founded in 1889). Internationalisation of the economy, technological developments such as the internet and mobile phones ensure that banks have to innovate and look for new markets . For example, the growth of HNWIs is low in traditional private banking markets such as Europe, compared with Asia where the number of millionaires has grown to 3.6 million. Banks also provide some private banking services at

5049-471: The Banque Laurentienne, LCF created the financial company BLC —Edmond de Rothschild Gestion d'Actifs Inc., which eventually led to the creation of B2B Banque. In 2001, LCF launched its first online banking website. In 2002, LCF launched the private equity structure Capital Partners. In 2005, Benjamin and Ariane de Rothschild launched the Edmond de Rothschild Foundations to unify and optimize

SECTION 50

#1732771872197

5148-471: The City of London and the City of Westminster have city status . The City of London and the remainder of Greater London are both counties for the purposes of lieutenancies . The area of Greater London includes areas that are part of the historic counties of Middlesex , Kent , Surrey , Essex and Hertfordshire . More recently, Greater London has been defined as a region of England and in this context

5247-545: The Fund-Human Capital focused on companies with the best employee management practices. Yves Perrier joined the company's board and François Pauly replaced Vincent Taupin as CEO of the group. Edmond de Rothschild partnered with the UK-based wealth management firm Hottinger Group and acquired a 42.5% stake in the latter. In March 2023, Ariane de Rothschild became CEO of the group. The Edmond de Rothschild Group

5346-603: The London area. This called for the Corporation of the city to extend its jurisdiction and administration over expanding areas around the city. Fearing an attempt by the Crown to diminish the Liberties of London , coupled with a lack of interest in administering these additional areas or concern by city guilds of having to share power, caused the Corporation's "The Great Refusal", a decision which largely continues to account for

5445-463: The Swiss holding company to simplify the group's organization. In 2019, the Edmond de Rothschild Group launched an AI -powered fund to invest in the real estate market and raised €375 million for its fourth Africa-focused fund. The company's shares were delisted from the Zurich stock exchange on 22 October 2019. In 2020, the group made its first investment in the Baltics by investing in the parking lot operator Parkdema and Sergey Bogdanchikov filed

5544-409: The Thames. Despite the evidence of scattered Brythonic settlements in the area, the first major settlement was founded by the Romans around 47 AD, about four years after their invasion of 43 AD. This only lasted until about 61 AD, when the Iceni tribe led by Queen Boudica stormed it and burnt it to the ground. The next planned incarnation of Londinium prospered, superseding Colchester as

5643-415: The United Kingdom's population and over 16% of England's population. The Greater London Built-up Area is the fourth-most populous in Europe, with about 9.8 million inhabitants as of 2011. The London metropolitan area is the third-most populous in Europe, with about 14 million inhabitants as of 2016, making London a megacity . Four World Heritage Sites are located in London: Kew Gardens ;

5742-405: The Viking incursions formally agreed by the Danish warlord , Guthrum and the West Saxon king Alfred the Great in 886. The Anglo-Saxon Chronicle records that Alfred "refounded" London in 886. Archaeological research shows this involved abandonment of Lundenwic and a revival of life and trade within the old Roman walls . London then grew slowly until a dramatic increase in about 950. By

5841-418: The administrative area of Greater London , governed by 33 local authorities and the Greater London Authority . As one of the world's major global cities , London exerts a strong influence on world art , entertainment, fashion , commerce, finance, education , healthcare , media , science, technology, tourism , transport , and communications. Despite a post- Brexit exodus of stock listings from

5940-419: The annual portfolio performance or a "flat-fee", usually calculated as a yearly percentage of the total investment amount. "Private" can also allude to bank secrecy and minimizing taxes through careful allocation of assets, or by hiding assets from the taxing authorities. Swiss and certain offshore banks have been criticized for such cooperation with individuals practising tax evasion. Although tax fraud

6039-447: The best of breed products and most banks have to follow an open architecture product platform where they distribute products of other banks to their clients in return for commission. Products offered to private banking clients include equities, fixed-income securities, structured products, foreign exchange, commodities, deposits and real-estate investments. Different banks charge their clients in different ways. There are banks that follow

SECTION 60

#1732771872197

6138-437: The centre of the British press. The invasion of Amsterdam by Napoleonic armies led many financiers to relocate to London and the first London international issue was arranged in 1817. Around the same time, the Royal Navy became the world's leading war fleet, acting as a major deterrent to potential economic adversaries. Following a fire in 1838, the Royal Exchange was redesigned by William Tite and rebuilt in 1844. The repeal of

6237-425: The city's metropolis. The City of London at its core once comprised the whole settlement, but as its urban area grew, the Corporation of London resisted attempts to amalgamate the city with its suburbs , causing "London" to be defined several ways. Forty per cent of Greater London is covered by the London post town , in which 'London' forms part of postal addresses. The London telephone area code (020) covers

6336-412: The city, to intimidate the inhabitants. In 1097, William II began building Westminster Hall , near the abbey. It became the basis of a new Palace of Westminster . In the 12th century, the institutions of central government, which had hitherto followed the royal English court around the country, grew in size and sophistication and became increasingly fixed, for most purposes at Westminster , although

6435-443: The combined revenue expenditure by London councils and the GLA amounted to just over £22 billion (£14.7 billion for the boroughs and £7.4 billion for the GLA). The London Fire Brigade is the statutory fire and rescue service for Greater London, run by the London Fire and Emergency Planning Authority . It is the third largest fire service in the world. National Health Service ambulance services are provided by

6534-405: The comprehensive University College London . It is the most visited city in Europe and has the world's busiest city airport system . The London Underground is the world's oldest rapid transit system. London's diverse cultures encompass over 300 languages. The 2023 population of Greater London of just under 10 million made it Europe's third-most populous city , accounting for 13.4% of

6633-500: The creation of the Greater London Authority . To mark the 21st century, the Millennium Dome , London Eye and Millennium Bridge were constructed. On 6 July 2005 London was awarded the 2012 Summer Olympics , as the first city to stage the Olympic Games three times. On 7 July 2005, three London Underground trains and a double-decker bus were bombed in a series of terrorist attacks . In 2008, Time named London alongside New York City and Hong Kong as Nylonkong , hailing them as

6732-419: The creation of the London Underground , the world's first urban rail network . The Metropolitan Board of Works oversaw infrastructure expansion in the capital and some surrounding counties; it was abolished in 1889 when the London County Council was created out of county areas surrounding the capital. From the early years of the 20th century onwards, teashops were found on High Streets across London and

6831-713: The driest is 1921, with a total fall of 12.1 inches (308 mm). The average annual precipitation amounts to about 600mm, which is half the annual rainfall of New York City . Despite relatively low annual precipitation, London receives 109.6 rainy days on the 1.0mm threshold annually. London is vulnerable to climate change , and there is concern among hydrological experts that households may run out of water before 2050. Temperature extremes in London range from 40.2 °C (104.4 °F) at Heathrow on 19 July 2022 down to −17.4 °C (0.7 °F) at Northolt on 13 December 1981. Records for atmospheric pressure have been kept at London since 1692. The highest pressure ever reported

6930-550: The first Muslim mayor of a major Western capital. The mayor's statutory planning strategy is published as the London Plan , which was most recently revised in 2011. The local authorities are the councils of the 32 London boroughs and the City of London Corporation . They are responsible for most local services, such as local planning, schools, libraries, leisure and recreation, social services , local roads and refuse collection. Certain functions, such as waste management , are provided through joint arrangements. In 2009–2010

7029-403: The first time and launched the Fund Big Data. Under the Swiss Bank Program , the group signed a non-prosecution agreement with the US Department of Justice regarding undeclared US accounts in Switzerland and paid a $ 45.24 million penalty. In 2016, the Société française des hôtels de montagne (SFHM) which gathered the non-financial assets of the group became Edmond de Rothschild Heritage . In 2017,

7128-564: The group and Cynthia Tobiano Deputy CEO since March 2023. In 1953, Edmond de Rothschild founded La Compagnie Financière (LCF) Edmond de Rothschild in Paris . He launched the Geneva -based private banking practice Banque Privée Edmond de Rothschild in 1965 and the branch in Luxembourg three years later. In 1969, LCF Edmond de Rothschild introduced a new investment model, the fund of funds (FOF) management. In 1970, LCF Edmond de Rothschild

7227-412: The group was fined $ 10.1 million in the aftermath of the 1MDB affair. In 2018, the group raised a €345 million fund to invest in biotech and medical devices. In March 2019, the company removed Edmond de Rothschild (Switzerland) S.A. from public trading, making it 100% private. Ariane de Rothschild took chairmanship of the board, and Vincent Taupin became CEO. The French business entities were folded into

7326-682: The group's philanthropic operations. In 2006, LCF and Nikko Cordial Securities launched LCF Edmond de Rothschild Nikko Cordial, the first fully-fledged family office in Japan. In March 2008, LCF Edmond de Rothschild became the first foreign bank in China to own a share of a Chinese mutual fund manager when it bought 15% of Zhonghai Fund Management, and increased its participation to 25% in 2011. From 2000 to 2010, LCF Edmond de Rothschild opened 7 regional offices in France. In 2009, Ariane de Rothschild became

7425-640: The location of its original headquarters in a road called Great Scotland Yard in Whitehall. The City of London has its own police force – the City of London Police . First worn by Met police officers in 1863, the custodian helmet has been called a "cultural icon" and a "symbol of British law enforcement". Introduced by the Met in 1929, the blue police telephone box (basis for the TARDIS in Doctor Who )

7524-458: The mayor's budget proposals each year. The GLA has responsibility for the majority of London's transport system through its functional arm Transport for London (TfL), it is responsible for overseeing the city's police and fire services, and also for setting a strategic vision for London on a range of issues. The headquarters of the GLA is City Hall , Newham. The mayor since 2016 has been Sadiq Khan ,

7623-753: The most museums , art galleries, libraries, and cultural venues in the UK, including the British Museum , National Gallery , Natural History Museum , Tate Modern , British Library , and numerous West End theatres. Important sporting events held in London include the FA Cup Final , the Wimbledon Tennis Championships , and the London Marathon . It became the first city to host three Summer Olympic Games upon hosting

7722-675: The most diverse cities in the world. In 1951, the Festival of Britain was held on the South Bank . The Great Smog of 1952 led to the Clean Air Act 1956 , which ended the " pea soup fogs " for which London had been notorious, and had earned it the nickname the "Big Smoke". Starting mainly in the mid-1960s, London became a centre for worldwide youth culture , exemplified by the Swinging London sub-culture associated with

7821-467: The old Roman city. By about 680 the city had become a major port again, but there is little evidence of large-scale production. From the 820s repeated Viking assaults brought decline. Three are recorded; those in 851 and 886 succeeded, while the last, in 994, was rebuffed. The Vikings applied Danelaw over much of eastern and northern England, its boundary running roughly from London to Chester as an area of political and geographical control imposed by

7920-490: The principal city of the Roman province of Britannia in 100. At its height in the 2nd century, Roman London had a population of about 60,000. With the early 5th-century collapse of Roman rule, the walled city of Londinium was effectively abandoned, although Roman civilisation continued around St Martin-in-the-Fields until about 450. From about 500, an Anglo-Saxon settlement known as Lundenwic developed slightly west of

8019-466: The resources, and it was rapidly developing the dignity and the political self-consciousness appropriate to a national capital ." After winning the Battle of Hastings , William, Duke of Normandy was crowned King of England in newly completed Westminster Abbey on Christmas Day 1066. William built the Tower of London , the first of many such in England rebuilt in stone in the south-eastern corner of

8118-641: The rest of Britain, with Lyons , who opened the first of their chain of teashops in Piccadilly in 1894, leading the way. The tearooms, such as the Criterion in Piccadilly, became a popular meeting place for women from the suffrage movement. The city was the target of many attacks during the suffragette bombing and arson campaign , between 1912 and 1914, which saw historic landmarks such as Westminster Abbey and St Paul's Cathedral bombed. London

8217-460: The royal treasury came to rest in the Tower . While the City of Westminster developed into a true governmental capital, its distinct neighbour, the City of London , remained England's largest city and principal commercial centre and flourished under its own unique administration, the Corporation of London . In 1100, its population was some 18,000; by 1300 it had grown to nearly 100,000. With

8316-546: The sea. London is the seat of the Government of the United Kingdom . Many government departments, as well as the prime minister's residence at 10 Downing Street , are based close to the Palace of Westminster , particularly along Whitehall . There are 75 members of Parliament (MPs) from London; As of June 2024 , 59 are from the Labour Party , 9 are Conservatives , 6 are Liberal Democrats and one constituency

8415-424: The start of 2018 to mid April 2018. Funding cuts to police in London are likely to have contributed to this, though other factors are involved. However, homicide figures fell in 2022 with 109 recorded for the year, and the murder rate in London is much lower than other major cities around the world. London, also known as Greater London , is one of nine regions of England and the top subdivision covering most of

8514-753: The theatres in the 1640s. The ban on theatre was lifted during the Restoration in 1660, and London's oldest operating theatre, Drury Lane , opened in 1663 in what is now the West End theatre district. By the end of the Tudor period in 1603, London was still compact. There was an assassination attempt on James I in Westminster, in the Gunpowder Plot of 5 November 1605. In 1637, the government of Charles I attempted to reform administration in

8613-594: The top spot in Euromoney's 2019 survey for "Best private banking services overall 2019". This table displays results of one category of the private banking ranking, "Best global private banking services overall 2019". Most private banks define their value proposition along one or two dimensions, and meet the basic needs across others. Some of the dimensions of value proposition of a private bank are parent brand, one-bank approach, unbiased advice, strong research and advisory team and unified platform. Many banks leverage

8712-401: The transactional model where the client is not charged any advisory fee at all. The banks thrive totally on the commissions they get by distributing third party products. There are other private banks that follow a hybrid model. In this model, the bank charges a fixed fee for certain products and advisory fee for the rest. Some of the other banks are totally advisory driven and charge the clients

8811-715: The unique governmental status of the City . In the English Civil War , the majority of Londoners supported the Parliamentary cause. After an initial advance by the Royalists in 1642, culminating in the battles of Brentford and Turnham Green , London was surrounded by a defensive perimeter wall known as the Lines of Communication . The lines were built by up to 20,000 people, and were completed in under two months. The fortifications failed their only test when

8910-744: The vice-president of LCF Edmond-de-Rothschild. In 2010, La Compagnie Financière Edmond de Rothschild (LCF) changed its name to Edmond de Rothschild Group. In 2011, the group joined the UNEP FI program. In 2011, the group opened an office in Dubai to develop its activities in the Middle East and became a member of the United Nations Global Compact . In 2013, it announced its plan to open a new office in London . In 2014, after raising

9009-477: The war. After World War II, in eastern Europe, assets were again moved into Switzerland for fear of confiscation by communist governments. Today, Switzerland remains the largest offshore center, with about 27% ($ 2.0 trillion) of global offshore wealth in 2009, according to Boston Consulting Group . Offshore wealth is defined as assets booked in a country where the investor has no legal residence or tax domicile. In Great Britain , private banks were established in

9108-453: The west of the City of London, has been the centuries-long host of the national government and parliament . London grew rapidly in the 19th century , becoming the world's largest city at the time . Since the 19th century, the name "London" has referred to the metropolis around the City of London, historically split between the counties of Middlesex , Essex , Surrey , Kent , and Hertfordshire , which since 1965 has largely comprised

9207-639: The world's three most influential global cities . In January 2015, Greater London's population was estimated to be 8.63 million, its highest since 1939. During the Brexit referendum in 2016, the UK as a whole decided to leave the European Union , but most London constituencies voted for remaining. However, Britain's exit from the EU in early 2020 only marginally weakened London's position as an international financial centre. The administration of London

9306-1078: Was bombed by the Germans in the First World War , and during the Second World War , the Blitz and other bombings by the German Luftwaffe killed over 30,000 Londoners, destroying large tracts of housing and other buildings across the city. The tomb of the Unknown Warrior , an unidentified member of the British armed forces killed during the First World War, was buried in Westminster Abbey on 11 November 1920. The Cenotaph , located in Whitehall ,

9405-592: Was delivered a French banking licence . In 1973, LCF Edmond de Rothschild bought the Bank of California , and sold it back to the Mitsubishi Bank in 1985 for thrice its acquisition price. In 1973, Edmond de Rothschild purchased the vineyard Château Clarke , appellation Listrac-Médoc , the first wine of the Edmond de Rothschild Heritage collection. In 1982, when David de Rothschild launched Paris-Orléans Gestion ( Rothschild & Co ), LCF Edmond de Rothschild took

9504-679: Was founded in Paris in 1953 by Edmond de Rothschild as La Compagnie Financière (LCF) Edmond de Rothschild. After opening branches in Geneva and Luxembourg, the LCF launched the first fund of funds in 1969. In 1997, Benjamin and Ariane de Rothschild took over the governance of the company, which was reorganized and renamed Edmond de Rothschild Group in 2010. In 2022, the business managed assets of CHF 158 billion, had 2,500 employees, and had 29 sites across 14 countries. Ariane de Rothschild has been CEO of

9603-437: Was once a common sight throughout London and regional cities in the UK. The British Transport Police are responsible for police services on National Rail , London Underground , Docklands Light Railway and Tramlink services. The Ministry of Defence Police is a special police force in London, which does not generally become involved with policing the general public. The UK's domestic counter-intelligence service ( MI5 )

9702-465: Was supervised by polymath Robert Hooke . In 1710, Christopher Wren 's masterpiece, St Paul's Cathedral , was completed, replacing its medieval predecessor that burned in the Great Fire of 1666. The dome of St Paul's dominated the London skyline for centuries, inspiring the artworks and writing of William Blake , with his 1789 poem " Holy Thursday " referring to 'the high dome of Pauls'. During

9801-524: Was unveiled on the same day, and is the focal point for the National Service of Remembrance held annually on Remembrance Sunday , the closest Sunday to 11 November. The 1948 Summer Olympics were held at the original Wembley Stadium , while London was still recovering from the war. From the 1940s, London became home to many immigrants, primarily from Commonwealth countries such as Jamaica, India, Bangladesh and Pakistan, making London one of

#196803