The Rothschild family’s Swiss private bank is strengthening ties with its investment bank to capitalise on gains made by the private bank since the financial crisis, and could as a result push into Asian markets, the Wall Street Journal reports.

"Our priority is to push forward our European locations, where there's still some room for improvement, and if there's an international step to be made, then it would be towards Asia," Veit de Maddalena, chief executive of Rothschild Bank's private-banking and trust arm, reportedly said.

During 2008 and 2009, the private bank managed to increase assets under management, as clients defected from bigger private banks such as UBS to boutique firms, and as it benefited from the safety and conservatism invoked by its name, according to the report.

"The crisis played into our hands, but at the same time it was an enormous burden for all our employees," de Maddalena reportedly said, adding that clients required increasing contact with their private bankers and frequent reassurance about their assets and the bank’s health.

In terms of strategy, the firm plans to increase hiring in the UK, Switzerland and Germany before deciding whether to expand in Asia, according to the publication. Meanwhile, an effort in Spain was reportedly stopped in favour of other European countries, and the private bank has also closed trust operations in the Cayman Islands and Bermuda due to mounting tension over the issue of offshore centres.

Central to this strategy is forming a stronger relationship between Rothschild’s investment bankers and private clients, especially business owners, the report said. To this effect the investment bank has made promoting co-operation between the two businesses a priority for more of its staff.