Rothschild & Co2020年年度报告.pdf

1、Rothschild&Co Annual Report 2020One Group organised around3 businesses Global Advisory Wealth and Asset Management Merchant Banking3,587 employees62 locations43 countriesRothschild&Co|Annual Report 2020 1ContentsMessage from the Chairman of the Supervisory Board 2 Message from the Management Board 4

2、1.Overview Overview of businesses 8 Rothschild&Co business model 10 World presence 12 Corporate governance 14 Organisation chart as at 31 December 2020 17 Corporate Responsibility 18 Rothschild&Co and its shareholders 22 2.Business review Global Advisory 28 Wealth and Asset Management 34 Merchant Ba

3、nking 38 3.Management report A.Activities and results for the 2020 financial year 50 B.Information on the Company and its share capital 60 C.Internal control,risk management and accounting procedures 76 D.Corporate Responsibility 83 E.Report on corporate governance 1284.Financial statements Consolid

4、ated financial statements 172 Statutory auditors report on the consolidated financial statements 236 Parent Company financial statements 239 Statutory auditors report on the parent company financial statements 251General InformationAbbreviations and glossary 256Statement by the persons responsible f

5、or the annual financial report 259Other information 2602 Rothschild&Co|Annual Report 2020Dear Shareholders,At the end of what can only be described a tumultuous year,when the world faced unprecedented challenges,I would like to thank the Supervisory Board members for their continued support and enga

6、gement with Rothschild&Co.We all benefit hugely from their experience and wisdom both during and outside our Board meetings.This year,given the particular circumstances,the Board met on seven separate occasions,notably to review the impact of and responses to COVID-19.Rothschild&Cos heritage and str