Rothschild & Co has entered a referral agreement with Liechtensteinische Landesbank (LLB) to transfer its UAE business, including clients and staff, to Rothschild’s Wealth Management division in Dubai.
The deal covers approximately 20 employees and has the potential to bring up to $1.24 billion in assets to Rothschild’s Dubai platform. LLB will recommend Rothschild as a partner for its private banking clients as it exits operations in Dubai and Abu Dhabi, following approximately 20 years in the region.
Rothschild opened its Dubai wealth management office in late 2024, under a DFSA Category 4 licence at the DIFC, led by Sascha Benz. The office targets ultra-high-net-worth individuals, families, charities, and foundations, supported by Rothschild’s Geneva-based Middle East team.
“The deal with LLB further strengthens our Wealth Management proposition and deepens our offering to clients locally,” said Saeed Al Awar, Partner and Head of the Middle East at Rothschild & Co. “It also enhances the trust and integrity of the relationships we can build with clients as the region increasingly becomes a hub for both regional and global wealth, and entrepreneurs.”
The LLB referral significantly boosts Rothschild’s UAE wealth operations, bringing its Middle East Wealth Management headcount to around 25. The firm views the deal as a strategic fit for its broader objectives to expand its presence in fast-growing markets across the region and consolidate complementary client portfolios.
