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Rothschild’s Wealth Unit Won’t Accept New Russian Clients

  • Private banking unit has about 70 Russian-nationality clients
  • Bank suspended Russian advisory activity, relocated staff

Rothschild & Co.’s wealth management unit will no longer take new customers holding Russian citizenship, people familiar with the situation said. 

The Paris-based bank, which has about 70 Russian clients, took the measure amid fears the lists of individuals under European Union and U.S. sanctions may widen over time, the people said, asking for anonymity because the matter is private.