In the banking world, the name Rothschild is an institution. Now, the investment bank is obviously making the long-awaited change of leadership.
In London, Alexandre de Rothschild is the epitome of the distinctive banker. Although he has been asked in recent years to say when he will take over the management of the bank, he has spoken in moderation. "It will happen when the time is right," he said in a rare interview with Manager Magazin in 2012.
Now his patience seems to be being rewarded. According to the Financial Times, the 37-year-old will take over as President of the French-British investment bank in June. David de Rothschild's 75-year-old father will retire.
The change of leadership from the sixth to the seventh generation is expected for years and the son is carefully preparing for the project. He joined the family business in 2008, having previously studied business in New York and London (Bear Stearns, Bank of America). Since 2012 he is a member of the board of directors and deputy of his father.
The investment bank was founded 200 years ago by Mayer Amschel Rothschild. His five sons developed it in the 19th century as the leading bank in Europe and made the Rothschilds the richest family in the world. In 2012, David de Rothschild restored the bank's French and British branches. The family currently owns 58% of the voting shares.
The bank has focused on its advisory role. Through its merger activity, it has managed to defend its fifth place in Europe against rivals such as Morgan Stanley or Deutsche Bank.
Alexandre de Rothschild takes over a growing company. Sales amounted to 852 million euros in the first half of the previous financial year, pre-tax profits amounted to 206 million pounds - an increase of 10%. The bank employs 2.800 people.
