Rothschilds buy into Rockefeller wealth business

Two of the most glamorous names in global finance are linking up, with the Rothschild banking dynasty agreeing to buy a stake in the Rockefeller group’s wealth and asset management business to get a long-sought foothold in the United States.

Rothschild’s London-listed RIT Capital Partners said on Wednesday it was buying the 37-per-cent stake from French group Société Générale SA’s private banking arm for an undisclosed sum.

The transatlantic union brings together David Rockefeller, 96, and Jacob Rothschild, 76 – two family patriarchs whose personal relationship spans five decades.

Rockefeller & Co. traces its origins back to 1882 when it was founded as one of the world’s first family offices by John D. Rockefeller to manage his personal wealth.

Since then it has developed into a wealth advisory group administering assets of $34-billion (U.S.).

The Rothschild banking dynasty began when Mayer Amschel Rothschild started a business in Frankfurt in the late 18th century.

The family has worked on some epochal deals during its history, such as helping finance Britain’s war against Napoleon in the 19th century and raising funds for a loan allowing the British government to buy the Suez canal.

RIT and another of the family’s companies, Edmond de Rothschild Group, said earlier this year they would form a new joint venture to boost their fund management and investment operations.

SocGen, which has held the stake in the Rockefeller wealth and asset management operation since 2008, appointed a new head of private banking in March, replacing Daniel Truchi with Jean-Francois Mazaud as it moved to overhaul the business.

Banks across the world are shedding non-core assets to reduce their risks and strengthen their capital positions to meet tough regulations aimed at preventing a repeat of the 2008 financial crisis.

The deal is expected to close by the end of September.

Source: http://www.theglobeandmail.com/report-on-business/international-new...

Views: 118

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Burbia posted a video

"EVERYONE'S BEEN SHOT UP HERE": Arsonists Set Wildfire In Idaho, Open Fire On Firefighters, Police

- Shocking news just broke that multiple firefighters and officers were shot in an ambush at the Canfield Mountain Natural Area in Coeur d'Alene, Idaho.Acco...
8 hours ago
Doc Vega posted a blog post

Well Known Wilderness Photographer Disappears in the Cascades-Guess Why?

 In August of 2023 another aficionado of the great outdoors went missing. The chilling revelations…See More
15 hours ago
Doc Vega posted a blog post

The Draconian Show

Sometimes I talk to my invisible friend, IkeHe comes from another dimension when magnetic fields…See More
Friday
tjdavis posted a blog post
Thursday
Doc Vega posted a blog post
Wednesday
Doc Vega posted blog posts
Tuesday
Doc Vega posted blog posts
Jun 23
Doc Vega favorited tjdavis's photo
Jun 22
Doc Vega commented on tjdavis's photo
Thumbnail

Game Night

"Ha! Good one!"
Jun 22
Doc Vega commented on FREEDOMROX's blog post MRNA VACCINES: Question
"Listen man I know where you're at but back in October of 2023 thru December of 2023 for months…"
Jun 22
tjdavis posted a video

Architecton | Official Trailer HD | A24

SUBSCRIBE: http://bit.ly/A24subscribeWritten and directed by Victor Kossakovsky and starring Michele De Lucchi. ARCHITECTON – Coming Soon RELEASE DATE: Comin...
Jun 22
tjdavis posted photos
Jun 22
tjdavis posted a blog post
Jun 21
Burbia posted a video

Europe Will Not Survive

The hubris.All things Archaix at www.archaix.com
Jun 21
FREEDOMROX posted a video
Jun 21
Burbia commented on tjdavis's blog post Track AIPAC
Jun 20
rlionhearted_3 commented on Doc Vega's blog post Latest Details on Missile Exchanges Between Iran and Israel
"May get really ugly over there?"
Jun 20
Doc Vega posted a blog post

Latest Details on Missile Exchanges Between Iran and Israel

Latest information about the air attacks between Israel and Iran as the US moves another carrier…See More
Jun 19
tjdavis favorited Less Prone's video
Jun 19
tjdavis posted a blog post
Jun 19

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted