Rothschild & Co is offering wealth management services to wealthy families and entrepreneurs in Israel, a country where «wealth is growing fast,» it said in a statement Tuesday.

Clients who until now have been attended to from the private bank's Zurich headquarters will now be able to go to the new representative office in Tel Aviv's metropolitan area, headed by Gerry Livnat.

Livnat joins the private bank from UBS where he was the CEO of wealth management in Israel. He is a well-known speaker at high-tech conferences and is also involved in the ‘start-up’ scene, according to the statement.

«This investment in Israel is a natural progression for us as we have an established global advisory presence here, as well as strong historical family ties.» François Pérol, managing partner and co-chairman of Rothschild & Co’s group executive committee said.