Edmond de Rothschild Group, is expanding its private banking business in Asia, making six senior appointments in the region and doubling its team of relationship managers to 12, and intends to hire three more by the end of 2014.

Edmond de Rothschild Group, is expanding its private banking business in Asia, making six senior appointments in the region and doubling its team of relationship managers to 12, and intends to hire three more by the end of 2014, according to the Wall Street Journal.

This publication is in contact with the European-headquartered bank, linked to one of the world’s oldest finance dynasties, for comment.

"We have the tradition of six generations of passing on wealth," Monique Chan, chief executive and head of Asia at Edmond de Rothschild Group, told the WSJ.

Christophe de Backer, group CEO of Edmond de Rothschild Group, was also quoted saying: "There is space for an organisation like us because we are Rothschild. "A lot of the families here have heard about the name," he added.

European firms have beaten a path to the Asian market but, depending on geographies and client segment, have not found it always easy to exploit the fast-growing ranks of high net worth individuals in the region. Last month, for example, Paris-listed Societe Generale sold its Asia private bank to Singapore-headquartered DBS Group.

Other, larger European firms with a high profile in the region include UBS and JP Morgan, as well as London-listed Standard Chartered, which has traditionally earned a high share of earnings in Asia; ABN AMRO, and BNP Paribas.