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Benjamin de Rothschild, president of the Franco-Swiss private bank holding company and asset manager Edmond de Rothschild, died of a heart attack at the age of 57, the group announced on Saturday.
De Rothschild had already moved away from the day-to-day running of the financial business inherited from his father Edmond, leaving it in the hands of his energetic wife Ariane, while pursuing his passion for high-speed yacht racing and cars.
“He has a great distance, a completely different temperament,” she once told the FT. “I admire him because I can’t. I have to be totally practical. “
The group described Benjamin de Rothschild as a “visionary entrepreneur, passionate about finance, speed, sailing and cars, passionate about wine. [and] and active philanthropist ”.
He leaves behind a family business created in 1953 which now has assets under management of 173 billion francs (194 billion dollars). In addition to wealth management, the group is involved in corporate finance, private equity and real estate. It employs 2,600 people at 32 sites around the world.
Cynthia Tobiano, deputy managing director, said Edmond de Rothschild’s business would not be affected by Benjamin’s sudden death.
“Obviously, they discussed and made long-term decisions at the level of the family holding company with him, but at the level of the bank, Ariane chairs the board of directors, and with the executive committee which designs and executes the strategy. Edmond de Rothschild, based in Geneva, went completely private in 2019.
Ms Tobiano added: “Covid is a catalyst to go even further and faster in digitization when you cannot meet customers face to face.”
Two branches of the extended Rothschild family finally settled a name dispute three years ago, with Paris investment bank Rothschild & Co and Edmond de Rothschild liquidating their cross holdings and agreeing not to use the Rothschild name alone in Branding.
Last year Sergei Bogdanchikov, former director of Rosneft in Russia, accused Edmond de Rothschild of engaging in a bribe scheme that stole millions of dollars from his investment fund and ultimately left him cost over $ 100 million. The private bank declined to comment on the pending affair.
In recent years, however, Benjamin de Rothschild has been more focused on family sailing sponsorships than business, including an ongoing campaign for Team Gitana’s high-speed, hydrofoil trimaran to win the Jules Verne Trophy. by breaking the world record for circumnavigation under sail – which currently lasts just under 41 days.
Victory in this challenge, said Ms. Tobiano, “would be a great legacy, and he would have loved it.
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