Benjamin de Rothschild, chairman of the holding firm for the Franco-Swiss personal financial institution and asset supervisor Edmond de Rothschild, has died of a coronary heart assault on the age of 57, the group introduced on Saturday.

De Rothschild had already stepped again from the day-to-day working of the monetary enterprise he inherited from his father Edmond, leaving it within the fingers of his energetic wife Ariane, whereas he pursued his ardour for high-speed yacht racing and vehicles. 

“He has an ideal distance, a totally totally different mood,” she as soon as told the FT. “I like it as a result of I can’t. I’ve to be completely hands-on.”

The group described Benjamin de Rothschild as a “visionary entrepreneur, enthusiastic about finance, pace, crusing and cars, wine fanatic [and] and energetic philanthropist”. 

He leaves behind a household enterprise created in 1953 that now has SFr173bn ($194bn) of belongings underneath administration. In addition to wealth administration, the group is concerned in company finance, personal fairness and property. It employs 2,600 folks at 32 areas internationally.

Cynthia Tobiano, deputy chief government, stated Edmond de Rothschild’s enterprise wouldn’t be affected by Benjamin’s sudden dying. 

“Clearly they mentioned and took long-term choices on the household holding stage with him, however on the financial institution stage Ariane is chairing the board, and with the manager committee designing and executing the technique.” Edmond de Rothschild, primarily based in Geneva, was taken wholly personal in 2019. 

Ms Tobiano added: “Covid is a catalyst to go even additional and sooner on digitalisation when you may’t meet purchasers nose to nose.” 

Two branches of the prolonged Rothschild household lastly settled a dispute over the name three years in the past, with Paris-based funding financial institution Rothschild & Co and Edmond de Rothschild unwinding cross-shareholdings and agreeing to not use the Rothschild title by itself in branding. 

Final 12 months Sergei Bogdanchikov, former head of Russia’s Rosneft, accused Edmond de Rothschild of participating in a kickback scheme that pilfered thousands and thousands of {dollars} from his funding fund and in the end value him greater than $100m. The personal financial institution declined to touch upon the persevering with case. 

In recent times, nonetheless, Benjamin de Rothschild was extra centered on the household’s sailing sponsorships than on the enterprise, together with a marketing campaign underneath means now for Gitana workforce’s high-speed, hydrofoiling trimaran to win the Jules Verne trophy by breaking the world report for circumnavigation underneath sail — which is at present just below 41 days. 

Victory in that problem, stated Ms Tobiano, “could be an ideal legacy, and one he would have liked.” 

LEAVE A REPLY

Please enter your comment!
Please enter your name here