Roth­schild puts next gen in charge

The Star Malaysia - StarBiz - - Foreign News -

PARIS: Roth­schild & Co heir Alexan­dre de Roth­schild will be­come the in­vest­ment bank’s top ex­ec­u­tive, putting a sev­enth gen­er­a­tion of the fam­ily in charge.

The younger Roth­schild takes over from his 75-year-old fa­ther, David, who will be­come chair­man of the bank’s su­per­vi­sory board at the share­hold­ers’ meet­ing on May 17, the com­pany said in a state­ment yes­ter­day. Alexan­dre will be ap­pointed ex­ec­u­tive chair­man of Roth­schild & Co Ges­tion, Roth­schild & Co’s man­ag­ing part­ner.

Alexan­dre, 37, joined the fam­ily com­pany a decade ago to fo­cus on the mer­chant-bank­ing divi­sion af­ter work­ing at other fi­nan­cial firms and has been groomed to run Roth­schild. His ap­point­ment fol­lows his fa­ther’s ef­forts to change the bank’s cor­po­rate struc­ture. Bloomberg re­ported the suc­ces­sion plan in Fe­bru­ary, cit­ing sources.

“Alexan­dre, with 15 years of ex­pe­ri­ence, has demon­strated deep knowl­edge of all our busi­nesses and his abil­ity to build re­la­tion­ships,” David said in the state­ment. “I be­lieve that those who make our firm so suc­cess­ful are as de­lighted as I am about the fam­ily con­ti­nu­ity at the head of the firm.” — Bloomberg

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