Senior Member Of European Banking Dynasty Jacob Rothschild Dead At 87
Senior member of one of Europe's most powerful banking dynasties, Nathaniel Charles Jacob Rothschild, has died on Monday.
He was 87.
His family confirmed his death in a statement to the Press Association. No further details regarding cause of death were given.
Rothschild is survived by four children — Hannah, Beth, Emily, and Nathaniel — in addition to many grandchildren. He was married to Serena Mary Dunn, who died at 83 in 2019.
According to The Independent, Lord Jacob's daughter, Hannah, 61, will assume the role of Chair of the Rothschild Foundation.
"Our father Jacob was a towering presence in many peoples' lives — 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 in a statement.
In the 1970's, the financier and philanthropist departed from his family's bank, N.M. Rothschild & Sons Ltd., following an internal dispute with the firm regarding the company's direction and family name.
He went on to co-found J Rothschild Assurance Group, which is now St James's Place, in 1980. Rothschild Investment Trust, known as RIT Capital Partner Plc, became one of the UK's most successful investment trusts. However, he stepped down in 2019.
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A well known philanthropist, he was chairman of the National Gallery and the National Heritage Lottery Fund. The gallery's director, Gabriele Finaldi, recalls Rothschild's brilliant, knowledgeable, and refined persona.
"The National Gallery transformations in the late 1980's and early 1990's were, in large measure, due to his energy and vision," Finaldi said in a statement obtained by the Art Newspaper.
Rothschild also restored Spencer House in London and spearheaded the five-year restoration of Waddesdon Manor between 1990-1995, a 19th century country house property tied to his family's lineage.
The Rothschild Foundation and Waddesdon Manor are deeply saddened to announce the death of Lord Rothschild, businessman, entrepreneur, philanthropist and cultural leader. He will be greatly missed by his family, his colleagues and his many friends. pic.twitter.com/wKkZZjQu8l
— Waddesdon (@WaddesdonManor) February 26, 2024
"The Rothschild Foundation and Waddesdon Manor are deeply saddened to announce the death of Lord Rothschild, businessman, entrepreneur, philanthropist and cultural leader. He will be greatly missed by his family, his colleagues and his many friends," Waddesdon Manor said in a statement via X.
Lord Jacob Rothschild will be buried in accordance with Jewish custom, including a small family ceremony and a memorial at a later date to celebrate his life.
