Annual Report 2011 - Hong Kong Monetary Authority

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Report on other legal requirements We confirm that we meet the legal requirements on licensing according to the Auditor Oversight Act (AOA) and independence (article 728 CO and article 11 AOA) and that there are no circumstances incompatible with our independence. In accordance with article 728a paragraph 1 item 3 CO and Swiss Auditing Standard 890, we confirm that an internal control system exists which has been designed for the preparation of consolidated financial statements according to the instructions of the Board of Directors. We recommend that the consolidated financial statements submitted to you be approved. PricewaterhouseCoopers SA Philippe Bochud Alain Lattafi Audit Expert Audit Expert Auditor in charge Geneva, 22 March 2012 FINANCIAL REPORT CONSOLIDATED ACCOUNTS 61
Consolidated affi liates at 31 December 2011 Fully consolidated entities of the Banque Privée Edmond de Rothschild Group In Switzerland Parent company Banque Privée Edmond de Rothschild SA Geneva Bank CHF 45.000m 2) Banca Privata Edmond de Rothschild Lugano SA Lugano 100 % 1) CHF 5.000m 2) Service companies Privaco Family Office SA Geneva 100 % 1) CHF 2.100m 2) Les Conseillers du Léman Associés SA Geneva 5) 100 % 1) CHF 0.100m 2) Chiffres: 1) Direct and/or indirect holding by parent company 2) Share capital 3) Wholly owned by Banca Privata Edmond de Rothschild Lugano SA, Lugano 4) Wholly owned by Banque Privée Edmond de Rothschild Europe, Luxembourg 5) Wholly owned by Privaco Family Office SA, Geneva 62 2011 ANNUAL REPORT - BANQUE PRIVÉE EDMOND DE ROTHSCHILD SA Financial and asset management companies Rouiller, Zurkinden & Cie Finance SA Fribourg 100 % 1) CHF 0.600m 2) Cefeo Investimenti SA Lugano 3) 100 % 1) CHF 0.100m 2) Castinvest SA Geneva 1) 100 % 1) CHF 0.100m 2) Priadvisory Holding SA Geneva 4) 100 % 1) CHF 3.120m 2)
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Annual Report 2011
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Contents 6 20 Banque Privée Edmond
Page 7 and 8:
Banque Privée Edmond de Rothschild
Page 9 and 10:
1 4 1 Odéon, Théâtre de l’Euro
Page 11 and 12: within our group, which have develo
Page 13 and 14: Is this the end of the market econo
Page 15 and 16: dangerous to bet on bureaucracy as
Page 17 and 18: SENIOR MANAGEMENT Head Office Execu
Page 19: BRANCHES In Switzerland Fribourg Se
Page 22 and 23: Social Entrepreneurship Economic te
Page 24 and 25: Corporate governance Introduction O
Page 26 and 27: 1.1.2. / 1.1.3. Group legal structu
Page 28 and 29: 2.6. Transferability restrictions a
Page 30 and 31: 1965-1996 First Vice-President, the
Page 32 and 33: Jean Laurent-Bellue Member, French,
Page 34 and 35: 3.2. Other activities and vested in
Page 36 and 37: 3.5. Powers The Board of Directors
Page 38 and 39: 4. Executive Committee The Executiv
Page 40 and 41: Jean-Pierre Pieren Member, Swiss, 1
Page 42 and 43: Present duties Since 1988 Chief Fin
Page 44 and 45: 5. Remuneration, profi t-sharing an
Page 46 and 47: This scheme was implemented for a f
Page 48 and 49: 7. Take-overs and defensive measure
Page 50 and 51: 9. Information policy Banque Privé
Page 52 and 53: Intercultural Dialogue Too often, p
Page 54 and 55: Key fi gures Banque Privée Edmond
Page 56 and 57: Awards 2011 in Milan and Large Fund
Page 58 and 59: esources of institutional clients i
Page 60 and 61: Outlook for 2012 2012 will be marke
Page 64 and 65: Abroad Banks Banque Privée Edmond
Page 66 and 67: Prifund Conseil SA Luxembourg 3) 10
Page 68 and 69: Dividends are eliminated through re
Page 70 and 71: Personnel welfare liabilities Contr
Page 72 and 73: Consolidated balance sheet at 31 De
Page 74 and 75: Consolidated cash fl ow statement a
Page 76 and 77: - The Risk Manager sees to it that
Page 78 and 79: 2011 2010 Change (in CHF ‘000) (i
Page 82 and 83: Forex adjustments Redesignations In
Page 84 and 85: Situation at end-2010 Uses and rele
Page 86 and 87: 2011 2010 (in CHF ‘000) (in CHF
Page 90 and 91: 22 Breakdown of consolidated assets
Page 94 and 95: (Note 26 cont’d) 2011 2010 Positi
Page 98 and 99: 2011 2010 42 Earnings per share Gro
Page 100 and 101: Health and Research For over a cent
Page 102 and 103: Key fi gures of Banque Privée Edmo
Page 104 and 105: Roundup of results The Bank’s net
Page 106 and 107: Elections as per our Articles of As
Page 108 and 109: Breakdown of revenues (% of total)
Page 110 and 111: Report on other legal requirements
Page 112 and 113:
Balance sheet at 31 December 2011 (
Page 114 and 115:
Notes to the fi nancial statements
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2011 2010 Change (in CHF ‘000) (i
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2011 2010 Change (in CHF ‘000) (i
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Par value Number of shares 2011 201
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Loans granted to the Bank’s gover
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(Note 15 cont’d) 2011 2010 Employ
Page 126 and 127:
2011 2010 Change (in CHF ‘000) (i
Page 128 and 129:
Edmond de Rothschild Conseil et Cou
Page 130 and 131:
Other Edmond de Rothschild Group co
Page 132 and 133:
Other Edmond de Rothschild Group co
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