The Rothschild banking dynasty is about to be passed to the 7th generation

  • Rothschild & Co, one of Europe’s most storied banks, is set to appoint a new boss.
  • Alexandre de Rothschild, 37, is expected to take over from his father David in June.
  • Alexandre will become the seventh generation of the family to take charge of the more-than-200-year-old bank.

Rothschild, perhaps the most storied banking dynasty in Europe, is set to appoint a new boss after it was reported that current chairman David de Rothschild is set to step aside, and appoint his son in his place.

The elder de Rothschild, 75, will hand over chairmanship to his son Alexandre, 37, in the summer, according to a report from the Financial Times on Tuesday.

Alexandre, who is current executive deputy chairman at Rothschild, first joined the bank during the financial crisis in 2008, moving from private equity firm Argan Capital, where he was a manager for around three years. Prior to that, he worked briefly for the now defunct bank Bear Sterns.

According to Rothschild’s website, Alexandre was appointed to the bank “to focus primarily on the establishment of the Rothschild Merchant Banking division.”

Rothschild declined to comment on the FT’s report.

The investment bank is one of the oldest in the world, having been founded over 200 years ago by Mayer Amschel Rothschild, after which five of his sons established banking businesses around Europe.

Rothschild & Co. is the financial holding company for all the family’s banking interests, covering investment banking, corporate banking, private equity, asset management, and private banking. It had a half-year revenue of €852 million,according to its most recent results.

The firm has roughly 2,800 employees in 40 countries, according to its website.

You can read the Financial Times’ full story here.