Perspectives

Markets are moving, and so are the headlines. In the latest episode of Perspectives, host Laura Künlen and Global Investment Strategist Kevin Gardiner discuss the headlines currently shaping investor sentiment - from the US budget proposal and tariff tensions to an encouraging economic signal from Germany. Recorded on 29 May 2025. 

Geopolitics and financial markets are more intertwined than ever.  In this episode, Alice Squires, Co-head of Investor Advisory and Co-head of Geopolitical Advisory, discusses the growing impact of geopolitics on businesses, the rise of shareholder activism, and the strategic decisions boards must take to manage risk as well as capitalise on opportunities in an increasingly complex landscape. 

On "Liberation Day", 2 April 2025, new US tariffs sparked significant market declines and increased global economic uncertainty. In the latest episode of Perspectives, host Laura Künlen is joined by Global Investment Strategists Kevin Gardiner and Victor Balfour to examine key market developments in greater detail.  They also review the latest moves from central banks and discuss what they could mean for the road ahead. 

Markets have been shifting in recent weeks, raising key questions for investors.In the latest Perspectives podcast, Laura Künlen is joined by Global Investment Strategists Kevin Gardiner and Victor Balfour to discuss recent market movements, the impact of Germany's increased infrastructure and military spending, and the latest central bank decisions from the US Federal Reserve, Bank of England, Swiss National Bank, and Bank of Japan.What do these developments mean for our asset allocation, and how should investors navigate this landscape?Recorded on March 20th, 2025.

Few understand the evolution of Rothschild & Co better than Dean Lush, Executive Vice Chair, who's been with the company for nearly four decades.  In our latest episode, Dean reflects on how the business has adapted to a changing industry while preserving its core values. He also shares his perspective on leadership, legacy, and why putting clients first remains the firm's guiding principle. Recorded in December 2024. 

With European stocks outperforming US equities so far in 2025, is the tide turning in global markets? In our latest Perspectives podcast, we discuss the strong performance of European stocks, recent shifts in the geopolitical landscape, including the German election outcome, and potential economic impacts from US policy changes under President Trump.Recorded on February 26th, 2025. 

Gary Powell's career at Rothschild & Co spans over 30 years, during which he has been instrumental in shaping the firm's success and strategic direction. In the latest episode of Perspectives, Gary reflects on the evolution of wealth and asset management and discusses the challenges currently facing private banks, such as technological innovation, regulatory pressures, and geographical expansion. He also shares his views on the crucial role of collaboration in building a successful career and fostering strong, high-performing teams. GlossaryFrançois Pérol - Managing Partner | Co-Chairman of the Group Partners CommitteeJaved Khan - Managing Partner | CEO of Five ArrowsRobert Leitão - Managing Partner | Head of Global AdvisoryRecorded on December 3rd, 2024. 

2024 was anything but a dull year. But what lies ahead? In this episode of our Perspectives podcast, Laura Künlen is joined by CIO Dr. Carlos Mejia and Global Investment Strategist Kevin Gardiner to review last year's macro market and portfolio performance. They reflect on a year marked by resilient economic growth amid geopolitical tensions, the strong performance of gold, and the political upheaval that shaped global markets. Looking ahead to 2025, they share insights on the evolving role of AI, potential market risks, and opportunities for investors this year.Recorded on January 22nd, 2025. 

Our business was once described as a firm that has a tradition of "combining business with humanity, without neglecting either". But how do we define Corporate Sustainability at Rothschild & Co today, and what are the key concepts that underpin the firm's approach in this area?In the latest edition of Perspectives, we speak with Anne Imbach, Rothschild & Co's Group Head of Sustainability, to explore these questions and discuss how the Group's sustainability strategy aligns with its broader business objectives.Recorded on December 6th, 2024.

What a year 2024 has been!   In this year-end episode, host Laura Künlen is joined by Global Investment Strategists Kevin Gardiner and Victor Balfour to reflect on a year marked by resilient economic growth amid geopolitical tension, and the return of familiar political figures. From inflation trends and central bank policies to a strong US stock market and rising concerns over global conflicts, they unpack the key developments that shaped the year. Looking ahead, they explore the outlook for 2025—what challenges remain, and where are the opportunities for investors in the new year?  

What does Donald Trump's re-election mean for financial markets?  In the latest episode of Perspectives, host Laura Künlen is joined by Global Investment Strategists Kevin Gardiner and Victor Balfour to discuss the potential implications for investors. They explore how financial markets reacted in the aftermath of the election and the opportunities this might present for investment strategies. They also review the ongoing third-quarter earnings season and the latest developments in China's stimulus measures. Finally, they explain how the current asset allocation continues to offer stability and opportunity in light of the latest market dynamics. Recorded on November 12th 2024.

A medida que el panorama financiero español se vuelve cada vez más dinámico, también lo hacen las oportunidades y los retos en la gestión de patrimonios. En la última edición de Perspectives from Wealth Management Switzerland, entrevistamos a Hugo Martin, Director General Wealth Management España, para hablar de los motivos estratégicos de la expansión de Rothschild & Co en el mercado español hace tres años. También exploramos la larga historia de la familia Rothschild en España y examinamos las necesidades únicas del mercado local.  

As Spain's financial landscape becomes increasingly dynamic, so too do the opportunities and challenges in wealth management. In the latest edition of Perspectives, we speak with Hugo Martin, Head of Wealth Management for Spain, to discuss the strategic rationale behind Rothschild & Co's expansion into the Spanish market three years ago. We also explore the Rothschild family's longstanding history in Spain and examine the unique needs of the local market.

Monetary policy has taken centre stage with the Federal Reserve's much-anticipated decision to cut interest rates. What does this mean for the broader economic outlook, and could it signal the beginning of a recessionary easing cycle?In the latest episode, Laura Künlen sits down with Global Investment Strategists Kevin Gardiner and Victor Balfour to analyse the implications of the Fed's decision. They also explore the significance of this rate cut, the actions of other global central banks, and the upcoming U.S. election. Finally, they discuss what these developments mean for our asset allocation. 

Wussten Sie, dass der Name „Rothschild“ vom roten Schild stammt, das einst vor dem Haus der Familie in der Judengasse in Frankfurt am Main hing? Hier legte Mayer Amschel Rothschild im späten 18. Jahrhundert den Grundstein für sein Geschäft.In dieser Folge unseres Podcasts begrüssen wir Henrik Herr, Head von Wealth Management Deutschland. Er spricht darüber, wie unsere Wurzeln weiterhin die Werte von Rothschild & Co prägen, über die Bedeutung langfristiger Beziehungen und die Besonderheiten des deutschen Marktes, einem der grössten Vermögenszentren weltweit. Ausserdem gibt er spannende Einblicke in die Eröffnung unseres neuen Büros in Hamburg und erläutert die Schlüsselfaktoren hinter unserer Expansionsentscheidung.Verpassen Sie nicht diese Ausgabe und erfahren Sie, wie sich unser deutsches Geschäft seit seinen bescheidenen Anfängen entwickelt hat!AbkürzungenGA - General AdvisoryDirk Wehmhöner - Head of Wealth Management HamburgLaurent Gagnebin - CEO, Rothschild & Co Bank AGGary Powell - Executive Chairman Wealth Management Rothschild & Co

Did you know that the name "Rothschild" comes from the "red shield" that once hung in front of the family's house in the Judengasse in Frankfurt am Main, Germany? It was also here that Mayer Amschel Rothschild established his business in the late 18th century.In this edition of our podcast, we welcome Henrik Herr, Head of Wealth Management Germany. Henrik discusses how this rich heritage continues to shape the bank's values, the significance of long-term relationships, and the distinctive features of the German market, one of the world's largest wealth hubs. He also sheds light on our recent Hamburg office opening and the key factors behind our decision to expand. Don't miss this edition to learn how our German business has evolved from its local beginnings!GlossaryGA - General AdvisoryDirk Wehmhöner - Head of Wealth Management HamburgLaurent Gagnebin - CEO, Rothschild & Co Bank AGGary Powell - Executive Chairman Wealth Management Rothschild & Co

This summer has been far from dull. Historically, August and September are weaker months for U.S. stock returns, but last week's global market sell-off surprised investors with its severity. Since then, markets have staged a remarkable recovery.In our latest episode of Perspectives, Laura Künlen and Global Investment Strategists Kevin Gardiner and Victor Balfour make sense of these events and their implications for our strategies. They also discuss the unwinding of the Japanese yen and its ripple effects through global markets, and analyse what to anticipate from the major central banks in the coming months.Recorded on August 14, 2024. Explore our latest Market Perspective and other publications at https://www.rothschildandco.com/en/wealth-management/switzerland/insights/. 

As we reach the mid-year mark, it's time to reflect on an eventful first half of 2024. In the latest Perspectives podcast from Rothschild & Co, Laura Künlen discusses with Global Investment Strategist Kevin Gardiner and CIO Dr. Carlos Mejia the main macroeconomic developments and how our strategies have performed. They also explore the outlook for the remainder of 2024 and delve into two of this year's key topics: Artificial Intelligence and the Magnificent Seven.

As we enter Q3 2024, political developments continue to hold our attention. However, what concerns us as citizens does not always align with what affects us as investors: markets often operate impersonally. In the latest edition of Perspectives from Rothschild & Co, Laura Künlen and Global Investment Strategist Kevin Gardiner delve into recent European elections and explore their repercussions on financial markets as well as other pivotal economic indicators currently in focus. 

In the latest episode of Perspectives from Rothschild & Co, Laura Künlen and Global Investment Strategist Kevin Gardiner analyse the Q1 2024 earnings season, discuss the benefits of active investing, and explore the performance of different asset classes in the current market environment.

2024 marks the 25th anniversary of The Rothschild Archive Trust. In the latest episode of Perspectives from Rothschild & Co, Laura Künlen and Melanie Aspey, Director of The Rothschild Archive, discuss the origins of the Archive, share captivating anecdotes about the Rothschild family, and discuss how their values can offer inspiration and guidance for businesses and leaders in today's ever-changing world. 

In the latest episode of Perspectives from Rothschild & Co Wealth Management Switzerland, Laura Künlen and Global Investment Strategists Kevin Gardiner and Victor Balfour discuss the recent shift in market sentiment and the re-escalation of geopolitical tensions in the Middle East. They also explore whether the "higher for longer" scenario regarding interest rates has returned, and provide an assessment of the ongoing Q1 earnings cycle.Recorded on May 1st, 2024.

In the latest episode of Perspectives from Rothschild & Co Wealth Management Switzerland, Laura Künlen and Global Investment Strategists Kevin Gardiner and Victor Balfour explore recent major central bank actions, analyse the various narratives influencing the oil market, and offer updates on gold and bitcoin prices.Recorded on April 10th, 2024. 

Worries about growth, geopolitics, and an authoritarian government have dramatically dented sentiment in China.In our latest episode of Perspectives, Laura Künlen and Global Investment Strategists Kevin Gardiner and Victor Balfour delve into why the challenges confronting China might be overstated and not fundamentally systemic. They also analyse the broader macroeconomic landscape and discuss recent adjustments made to our asset allocation.

Simon Brewer, host of the acclaimed finance podcast, "The MoneyMaze Podcast", holds the position of senior adviser to Rothschild & Co in London.In this special edition of our Perspectives podcast, Laura Künlen and Simon Brewer delve into Simon's career journey, the insights gained from his experience as a senior manager, the responsibilities of a senior adviser, and how his podcast contributes to his effectiveness in this role.

2024 is set to be a year of record-breaking elections. But what else should investors look out for this year?In the latest episode of Perspectives from Rothschild & Co Wealth Management Switzerland, Laura Künlen and Global Investment Strategists Kevin Gardiner and Victor Balfour, discuss the current and anticipated market environment, along with the possibility of an impending recession. Recorded on January 29th 2024.

Kevin Gardiner, Rothschild & Co's Global Investment Strategist, has been responsible for formulating our in-house perspectives on the global economy and capital markets for almost a decade.In the latest episode of our Perspectives podcast, Laura Künlen and Kevin Gardiner delve into the motivations behind Kevin's journey to become an economist, reflect on how his early experiences in a central bank have shaped his views on monetary policy and economic governance, and share insights into the decision-making process in allocating funds for our clients.Recorded on December 5th 2023.

How is the economy faring? How can we experience both falling inflation and improved growth? And are we at the end of the interest rate cycle? In the latest episode of Perspectives from Rothschild & Co, Laura Künlen and Global Investment Strategist Kevin Gardiner and Victor Balfour delve into recent market developments, draw conclusions on a notably eventful year, and offer a preview of what investors can expect in 2024.Recorded on December 5th 2023.

Every CEO has a starting point in their career.In the latest episode of our Perspectives podcast, Laura Künlen and Laurent Gagnebin, CEO Rothschild & Co Bank AG, delve into his career journey, the motivations behind Rothschild & Co's delisting, the significance of loyalty in shaping a firm's culture, and the parallels between the worlds of finance and music.

In der neuesten Folge unseres Perspectives Podcasts besprechen Laura Künlen und Andreas Feller, Head Private Banking Zürich, die Stereotypen rund um Vermögensverwalter, die Entwicklung des Finanzplatzes Schweiz und die Gründe, warum dieser Status voraussichtlich fortbestehen wird. 

In the latest episode of our Perspectives podcast, Laura Künlen and Andreas Feller, Head Private Banking Zurich, explore the stereotypes surrounding wealth managers, the evolution of Switzerland into a financial hub, and the reasons why this status is expected to endure.

What is life at the investment helm like? What are the skills needed to be a CIO? And what does the current investment environment look like?In the latest episode of our Perspectives podcast, Laura Künlen and Dr. Carlos Mejia, CIO Rothschild & Co Bank AG, reflect upon these questions and more.

September lived up to its bad reputation in financial markets, and oil prices were far from being a barrel of fun either. In the latest episode of Perspectives from Rothschild & Co, Laura Künlen and Global Investment Strategists Kevin Gardiner and Victor Balfour discuss recent comments by central banks, provide insights on commodity price dynamics and currencies, and delve into what lies ahead.Recorded on October 4th 2023.

Stocks and bonds haven't had a particularly pleasant summer. In the latest episode of Perspectives from Wealth Management Switzerland Laura Künlen and Global Investment Strategists Kevin Gardiner and Victor Balfour discuss what we make of these developments and provide an update on the latest happenings in China. 

As a complement to public equity investments, private markets have evolved significantly in the last few decades, and their popularity continues to raise. But how are private markets different to public markets? What developments can be observed in 2023? And what should an ideal allocation look like? In the latest episode of Perspectives from Wealth Management Switzerland, Laura Künlen and Sara McDonald, Private Markets Sales & Distribution Director, discuss these questions and more. 

Recent weeks have been marked by an unforeseen decline in June's inflation figures. In the latest episode of Perspectives from Wealth Management Switzerland, Laura Künlen and Global Investment Strategists Kevin Gardiner and Victor Balfour discuss how this has changed our investment thinking, provide insights into the key drivers behind the outlook for China's economy as well as give an update on the Q2 earnings results so far. 

Business surveys suggest that growth will slow further in the second half of 2023, while stubbornly-sticky core inflation is keeping central banks on their toes, and policy rates have yet to peak. In the latest episode of Perspectives from Wealth Management Switzerland, Laura Künlen and Global Investment Strategists Kevin Gardiner and Victor Balfour discuss why a more dramatic economic setback still feels neither necessary nor likely and why we should question artificial intelligence pessimists. 

What client needs does Investment and Portfolio Advisory address? What's the relationship between investment knowledge and psychology? And what do Nicaragua and Switzerland have in common? In this episode of Perspectives from Wealth Management Switzerland, Laura Künlen and Amaya Gutierrez, Head of Investment and Portfolio Advisory, reflect upon these questions as well as venture into some investing trends for 2023.

What does the job profile of a private banker look like and what are the challenges when it comes to preserving wealth? In the latest episode of Perspectives from Wealth Management Switzerland, Laura Künlen and Giovanna Lagutaine, Market Head Switzerland, discuss these questions and more and also explore the Rothschild & Co art collection. 

The recent stress in the banking sector seems to have abated but there remain many questions. In the latest episode of Perspectives from Wealth Management Switzerland, Laura Künlen and Global Investment Strategists Kevin Gardiner and Victor Balfour share their latest thinking on the economic backdrop and what this means for the markets.

Few would have predicted recent tumultuous events in the banking sector. In the latest episode of Perspectives from Wealth Management Switzerland, Laura Künlen and Global Investment Strategists Kevin Gardiner and Victor Balfour provide an update on the banking sector and discuss what this means for investors.

This International Women's Day we open the door to the Rothschild Archive. In the latest episode of Wealth Management Switzerland's Perspectives podcast, Laura Künlen and Melanie Aspey, Director of the Rothschild Archive, shed light on how the women of the Rothschild family shaped the early days of the business and how their legacy translates till today.

Will there be a recession? Is inflation indeed fading? And is it time for eurozone stocks to outperform? In the latest episode of Perspectives from Wealth Management Switzerland, Laura Künlen and Global Investment Strategists Kevin Gardiner and Victor Balfour discuss recent events in the markets and what underlying factors are driving them.

A war in Europe, an energy crisis, shades of the 1970's – inflation and industrial unrest – and sharply rising interest rates. Just to name a few themes that dominated the economic and investment world in 2022. But what about 2023?In the latest episode of Perspectives from Rothschild & Co WM Switzerland, Laura Künlen and Global Investment Strategists Kevin Gardiner and Victor Balfour bid farewell to 2022 and look ahead to the potential themes driving markets and the economy next year.