Benjamin de Rothschild, chairman of Franco-Swiss private bank holding company and asset manager Edmund de Rothschild, died of a heart attack at the age of 57, the group announced on Saturday.
De Rothschild has already retreated from the day-to-day operations of the financial business inherited from his father Edmond, and while he pursues a passion for high-speed yacht racing and automobiles, it is in the hands of his energetic wife Arian. I entrusted it to.
“He’s far away and has a completely different temper,” she once told FT. “I admire it because I can’t do it. I have to be completely practical.”
The group described Benjamin de Rothschild as “a visionary entrepreneur, a passion for finance, speed, sailing and automobiles, and a wine lover.” [and] And an active philanthropist. ”
He left the family business, founded in 1953, and now manages assets of CHF 173 billion ($ 194 billion). The group is involved in corporate finance, private equity and real estate as well as wealth management. It employs 2,600 people in 32 locations around the world.
Deputy Chief Executive Officer Cynthia Tobiano said Edmond de Rothschild’s business was unaffected by Benjamin’s sudden death.
“Obviously, they talked to him at the family holding level and made long-term decisions, but at the banking level, Ariane chaired the board and the executive committee designed and implemented the strategy. The Geneva-based Edmond de Rothschild was completely private in 2019.
Tobiano added: “Covid is a catalyst for even faster digitization when you can’t meet your clients in person.”
Two branches of the expanded Rothschild family finally opened three years ago as Paris-based investment banks Rothschild & Co and Edmond de Rothschild unleashed their cross-shareholdings and agreed not to use the Rothschild name alone for branding. Resolved the dispute over the name.
Last year, Russia’s former chief of Rosneft, Sergey Bogdanchikov, said Edmond de Rosneft stole millions of dollars from his investment fund and eventually kicked back a plan that cost more than $ 100 million. He accused him of engaging. The private bank refused to comment on the ongoing proceedings.
However, in recent years Benjamin de Rothschild has focused more on family sailing sponsorship than on business. It is underway with the Gitana team’s high-speed hydrofoil trimaran campaign to break the circumnavigation world record and win the Jules Verne Trophy. On the voyage — currently less than 41 days.
The victory in that challenge was “a great legacy and will be what he would have loved,” Tobiano said.
Benjamin de Rothschild dies of heart attack at age 57
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