UK banker Jacob Rothschild dies aged 87
LONDON (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 people’s 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 cofound J Rothschild Assurance Group, which became today’s London-based wealth manager St. James’s Place.
He was involved in many business endeavors, 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 a trustee of Britain’s National Gallery between 1985 and 1991.
The National Library of Israel called him a “champion of
the Jewish people, learning, and culture, whose contribution to the Library, Israel, and the Jewish people is immeasurable.”
It added that he played a foundational role in its establishment. In a 2016 speech at a ceremony, Rothschild said: “For 2,000 years our treasured books were scattered, with no geographic center of gravity. Now at long last, these volumes as well as those yet to be written, together with a wide range of other collected materials, are to have a permanent home and one where it should be – in the heart of Jerusalem.…The Library will have the responsibility of nothing
less than preserving and illuminating the history of Jewish civilization.”
In his position as president of The Rothschild Foundation Hanadiv Europe, he “powered the establishment of Gesher L’Europa (Bridge to Europe), an initiative to connect between the Library in Jerusalem, and people, heritage institutions, and Jewish communities across Europe through knowledge sharing, cultural and educational programming, and storytelling,” it added.
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.