British banker Jacob Rothschild dies aged 87

RIT Capital Partners

26/02/2024 12:33

LONDON, Feb 26 (Reuters) - British financier Jacob
Rothschild, a senior member of one of Europe's best-known
banking dynasties, has died at the age of 87, his family
announced on Monday.
    The family, in a statement to the UK's Press Association
news agency, called Rothschild "a towering presence in many
peoples' lives". 
    He was "a superbly accomplished financier, a champion of the
arts and culture, a devoted public servant, a passionate
supporter of charitable causes in Israel and Jewish culture, a
keen environmentalist and much-loved friend, father and
grandfather," the family said. 
    Rothschild, born in England in 1936, started his career at
the family bank, NM Rothschild & Sons, in 1963 before going on
to co-found J Rothschild Assurance Group, which became today's
London-based wealth manager St James's Place.
    He was involved in many business endeavours, including
founding investment trust RIT Capital Partners, which has backed
a variety of companies, from hedge funds to clean technology
start-ups.
    Rothschild was also known for being a long-standing patron
of the arts, and was trustee of Britain’s National Gallery
between 1985 and 1991.
    Ed Vaizey, Britain’s former culture minister, paid tribute
to Rothschild on X, describing him as one of the country’s
greatest cultural philanthropists.
    Waddesdon Manor, an English country estate managed by the
Rothschild Foundation, said on social media platform X that it
and the foundation were "deeply saddened" by the death, calling
Rothschild a "businessman, entrepreneur, philanthropist and
cultural leader".
    The Rothschild banking family traces its roots back to 18th
century Frankfurt, from where different family members moved to
cities across Europe to build out banking businesses.

 (Reporting by Tommy Reggiori Wilkes and Iain Withers, Editing
by Louise Heavens)
 ((thomas.wilkes@tr.com; +44 (0) 7769 955711;))